N.C. State's stunning ACC men's tournament title could be worth over $8 million to coach

North Carolina State head coach Kevin Keatts cuts the net after the Wolfpack defeated North Carolina in the ACC championship game.

Editor’s note: This story has been updated with additional reporting involving Kevin Keatts’ contract with North Carolina State

An NCAA men’s basketball tournament champion won’t be decided for three more weeks, but among coaches and their various performance-incentive provisions, there is already a major winner:

North Carolina State’s Kevin Keatts, who stands to gain more than $8 million from his 10th-seeded team’s stunning five-wins-in-five-days run to the Atlantic Coast Conference tournament title that culminated in an 84-76 victory over top-seeded and No. 4-ranked North Carolina on Saturday night in Washington, D.C.

According to Keatts’ contract with N.C. State, winning the ACC tournament results in:

-An automatic two-year contract extension. This means the contract is now scheduled to run for six more years, through April 15, 2030.

-An automatic $400,000 pay increase that begins next season and stays in place for the remainder of the contract.

-A $100,000 lump-sum bonus for the ACC tournament championship and an additional lump-sum of at least $25,000 for the team's automatic bid to the NCAA Tournament. The payment will increase with each subsequent win in the event.

This article originally appeared on USA TODAY: NC State's Kevin Keatts due big payout after ACC tournament win