Breaking Down Justin Gainey’s 5-Year Contract at NC State

NC State has signed Justin Gainey to a 5-year deal to be their new Head Men’s Basketball Coach. I’ve obtained a copy of the contract from the university through a FOIA request. Here’s the breakdown.

Annual Salary

In Year 1, Gainey will make an annual base salary of $2.35 million. Each year of the contract, his base salary will increase by $100k, which means in the final year of the contract, Gainey will have a base salary of $2.75 million.

Bonuses

Gainey will have the opportunity to earn $1.25 million in bonuses on an annual basis: $300k in academic bonuses and $950k in competitive team achievement bonuses.

Competitive Team Achievement Bonuses

Regular Season

If NC State is the ACC Regular Season Champion or Co-Champion, Gainey will earn a $100k bonus.

ACC Tournament

If NC State makes the ACC Tournament Championship game, Gainey will earn a $50k bonus. If the Wolfpack wins the ACC Tournament, that $50k bonus will increase to $100k.

Final Ranking

If NC State finishes the season ranked in the Top-25 of the AP or Coaches Poll (including any successor polls), Gainey will earn a $50k bonus. If the Wolfpack finishes the year ranked in the Top-10, that $50k bonus will increase to $100k.

Awards

If Gainey is named the ACC Coach of the Year, he will earn a $50k bonus. If he is named the National Coach of the Year, he will earn a $100k bonus.

NCAA Tournament

Below is a breakdown of the bonuses Gainey can earn based on how the Wolfpack performs in the NCAA Tournament. The bonuses aren’t cumulative. but based on the highest level of achievement.

First Four: $30k
Round of 64: $50k
Round of 32: $75k
Sweet 16: $125k
Elite 8: $225k
Final Four: $300k
NCAA Championship Game: $350k
NCAA Championship Game Winner: $500k