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Kevin Keatts Tells Joe Giglio that He Has Exercised His 2-Year Contract Extension at NC State

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NC State Head Men’s Basketball Coach Kevin Keatts was on with Joe Giglio of WRAL Sports Fan and 99.9 The Fan yesterday, and they talked about a variety of topics, but what caught my attention the most was the discussion over Keatts’ contract situation.

Giglio: Do you feel like this year you are coaching for your future, for your job? 

“I don’t. I really don’t. I feel like I’m coaching this year the way I’ve coached every year. I’m a very prideful person. When I took over this NC State program, we had taken over a program that had won 4 conference games the year before, and 5 the year before. We didn’t like that. The university didn’t like that. I obviously wanted to come in and be different. Other than last year, we’ve been different. I’m coaching not only for myself, but I’m also coaching for NC State University, and the guys and the families where I sat in front of them and recruited them to get a good education, but also to be able to play at the next level.”

Giglio: Part of your contract allows you to extend your current deal, I believe by two years, based on the loss of the scholarship and based on the limitation of the recruiting visits. Have you and your agent talked with Boo Corrigan at NC State about what you would like to do with your contract? (See Video Above)

Keatts: Yes. Last month we decided to exercise our 2-year NCAA extension. 

You might be wondering, what is this 2-year extension Keatts was able to opt into, and what is its relationship to the NCAA investigation on NC State’s Men’s Basketball that finally concluded in December?

Back in March of this year, Giglio wrote a piece over at WRAL, explaining some details of Keatts contract, that relate to the ruling of the NCAA.

Under the terms of Keatts’ contract, which were amended in July 2021, Keatts has the ability to extend his current deal by two years based on the NCAA ruling.

Keatts’ current contract runs through the 2025-26 season. As of Thursday, Keatts had not picked up the option to add the years to the deal.

In December, the NCAA, through its Independent Accountability Resolution process, gave NC State one-year probation, took away one scholarship for the 2022-23 season and placed recruiting restrictions on Keatts and his staff for the 2021-22 season.

According to the most recent contract, Keatts has the ability to elect to “be extended by NC State in an amount equal to the length of the penalties” imposed by the NCAA “up to a maximum extension of two years.”

The outlined penalties were if the NCAA “reduces the amount of scholarships that may be awarded by the team,” “restricts the team’s ability to recruit student athletes” or “precludes the Men’s Basketball Team from participation in post-season competition.”

Since the scholarship reduction and recruiting restrictions were in two different years, Keatts has the ability to extend the deal by two years. (WRAL)

So, yesterday, Keatts told Giglio that last month he exercised the 2-year extension that was brought about by the probation given to NC State by the NCAA in December.

That means that Keatts contract now runs through 2028, and not 2026.

Currently his salary is $2.7 million annually.

I’m not hoping this happens, but it’s worth noting. At any point, if NC State decides to fire Keatts, they have to buyout the remainder of his contract, to the tune of half of his annual salary, multiplied by the amount of remaining years on his contract.

So for instance (again, I’m not saying I want this to happen), if NC State were to decide to part ways with Keatts at the end of the upcoming season, the buyout due to him would be $6.75 million. Prior to the extension Keatts exercised, that buyout would have been $4.05 million.

There’s no denying that the NCAA Investigation has been a cloud over the Wolfpack Men’s Basketball program ever since Keatts arrived in Raleigh. There is also no denying that though the probation could have been worse, the punishment does infringe upon the coach’s ability to be as successful as possible. That’s why an addendum was added to Keatts contract last July.

Strictly from a financial standpoint, I completely understand why Keatts exercised the option. From a familial standpoint, Keatts’ son K.J. Keatts is a Freshman at NC State, as a walk-on member of the Men’s Basketball team. I also believe that Coach Keatts loves it at NC State, and believes he has a lot of unfinished business to take care of as the Wolfpack Men’s Basketball Coach.

 

Matthew is Co-Owner of Pack Insider. He writes for all sports, with a focus on football and recruiting, and is in charge of business strategy. He is an NC State alum who majored in business. Matthew is also the lead pastor of The Point Church in Cary, NC.

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packjet
packjet
1 year ago

First 33 years, 10 ACC titles, 2 national titles. Last 34 years no titles except losers. I talked to Yow years ago. She wanted to have a championship in basketball but they were not willing to go out and get a proven winner. They kept hoping some cheap coach could get the job done but alas they keep hiring people who can’t recruit 4 and 5 star recruits. Now we have a coach that can’t even get us to the NCAA tournament. I’m tired of all the excuses. We aren’t going to have competitive teams in our future. Pick a… Read more »

Papajohn
Papajohn
1 year ago

I think anyone would have taken the extension. Why not?
However, it won’t keep him employed here if he doesn’t show dramatic improvement this season.

NC State Basketball

An NC State Win Over Marquette in the Sweet 16 Would Be…

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Awesome. Obviously.

#11 seed NC State will play #2 seed Marquette tomorrow night in the Sweet 16. What would a win mean for the Wolfpack? Many things, but here’s just a few:

It would give NC State 25 wins on the year (25-14), which would be the most wins since 1982-83, when the Wolfpack went 26-10, winning the National Championship.

It would mark the 12th time in school history that NC State has won 25+ games in a single season.

1982-83 – 26-10 

1973-74 – 30-1 

1972-73 – 27-0 

1954-55 – 28-4 

1953-54 – 26-7

1952-53 – 26-6 

1950-51 – 30-7 

1949-50 – 27-6 

1948-49 – 25-8 

1947-48 – 29-3

1946-47- 26-5

It would be the 7th time NC State has advanced to the Elite 8 in the NCAA Tournament.

1950

1951

1974

1983

1985

1986

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NC State Basketball

NC State has Won 5 ACC Championships this Year

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NC State has won 5 ACC Championships this year, which is the most of any athletic program in the conference this year.

The Wolfpack has won ACC Titles in Women’s Cross Country, Men’s Swimming & Diving, Wrestling, Men’s Basketball and Gymnastics.

The last time NC State won 5 ACC Championships in one year was 1979-80.

As far as I can tell, here’s a look at the Wolfpack Conference Titles from 1979-80:

Football
Women’s Basketball
Women’s Cross Country
Men’s Swimming & Diving
Men’s Tennis

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NC State Basketball

NC State is 1 of 4 Schools to Have Both Men & Women’s Basketball Teams in Sweet 16

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NC State is 1 of 4 schools to have their Men and Women’s Basketball teams BOTH advance to the Sweet 16, along with Duke, Gonzaga and UCONN.

NC State and Duke are the only two schools in the country to send both Basketball teams to the Sweet 16, and also send the Football team to a bowl game.

This marks only the third time in school history that BOTH teams made the Sweet 16.

Years NC State’s Men & Women’s Teams Made the Sweet 16

1985
1989
2024

Despite the fact that the Men’s team has made the Elite 8 six times (1950, 1951, 1974, 1983, 1985, 1986), and the Women have made it 2 times (1998 & 2022), in the three occasions they both went to the Sweet 16 in the same year, neither team advanced to the Elite 8.

In 2024, Why Not Us?

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NC State Basketball

#3 seed NC State Holds on Against #6 Seed Tennessee, Defeating the Vols 79-72 to Advance to the Sweet 16

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#3 seed NC State held on last night, defeating #6 seed Tennessee 79-72 in Reynolds Coliseum to advance to the Sweet 16 for the 5th time in the last 6 tournaments.

The Wolfpack led by only 1 after the 1st Quarter, but they looked like they had things under control at halftime, leading by 18 points.

At one point, NC State led by as much as 20 points in the 3rd Quarter, but the Lady Volunteers weren’t about to give up.

With 4:19 left in the 4th, Tennessee cut the lead to 2 points, but NC State might have bent, but they wouldn’t break.

Junior Guard Aziaha James led the way with 22 points and 7 assists, which were both team highs. She scored 7 points in the final 3.5 minutes, helping to squash tue Last Vols’ comeback attempt.

Junior Guard Saniya Rivers had 20 points (6-14 FG) and 6 boards.

Freshman Zoe Brooks was clutch off the bench, chipping in 16 points and 6 boards.

This marks the 16th time the NC State Women’s Basketball team has advanced to the Sweet 16.

The Wolfpack will play #2 seed Stanford on Friday night at 7:30pm on ESPN in Portland.

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