Who said there is no money in college basketball. I thought this story was appropriate right now, considering all the chatter going on recently as to whether or not student-athletes should be paid to play, specifically in NCAA Division I basketball.
After all where do college athletic departments get all that dough to build extravagant, multi-million dollar amenities for their players like that brand-spankin new Oklahoma State $4 million locker room?
Surely getting a commitment from the Top 10 rated in-coming freshman LeBryan Nash has to increase season ticket sales, but when it comes to big time, money spending Division I programs, no one doles out more to ensure success like the Kentucky Wildcats.
The historic and legendary Big Blue program is one of those Top 5 basketball schools, along with UCLA, Duke, North Carolina, and Indiana that every player, coach, and fan clamors to play for or coach at. They continually recruit with the best of them and spare no expense when it comes to new coaching candidates like when they doled out a boatload of cash to secure the services of John Calipari away from Memphis 2 seasons ago.
While Calipari’s base salary is reportedly in the $400,000 range, the real money comes in the from an estimated $3.4 million in broadcasting and and endorsement deals, per his contract. He also will receive a $75,000 retention bonus if he remains the Wildcats’ coach through 2014, a $50,000 bonus related to his team’s academic progress, and $50,000 based on graduation rates.
Even though this year’s Kentucky squad lost in the NCAA Final Four to eventual National Champion Connecticut Huskies, don’t feel too bad for Calipari since he will or already has received a post-season bonus of $325,000 for making it to the National Semi-Finals. If the Wildcats had won the National Title, he would have gotten an additional $375,000.
Do you still think collegiate players shouldn’t be paid?
Allen Moll has been a lifelong NBA and NCAA College Basketball fan who watches and studies games religiously, and coaches youth basketball in his native Lehigh Valley region of Pennsylvania. Allen also provides content to Bleacherreport.com, Upperdeckblog.com, in addition to being a tenured NBA and NCAA columnist for TheHoopDoctors.com.
