College Basketball

Rutgers College Basketball Coach Steve Pikiell Contract, Salary, Net Worth, and Buyout

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David Evans
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David Evans Sports Editor

David Evans is a well-established figure in sports journalism, carrying with him an impressive portfolio that stretches over 15 years. His savvy insights and reliable commentary have been spotlighted on several esteemed sports betting platforms. David's keen interest lies in North Carolina basketball, college football, NFL, soccer, and golf. His insightful pieces reveal a deep understanding of these sports and a subtle flair for strategic analysis. Away from his desk, David prioritizes physical fitness, regularly working out at the gym. His downtime is often spent in the calming company of his cat. David Evans brings to the table a compelling blend of experience, passion, and intuition. A respected name in sports journalism, he continues to deliver quality content that engages and informs his readers.

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Updated15 Mar 2023

steve pikiell

Rutgers basketball coach Steve Pikiell has had a rollercoaster tenure since being hired in March 2016. Despite leading the Scarlet Knights to their first NCAA Tournament appearance in 30 years in 2021, Pikiell’s recent struggles have some fans questioning his future with the team. After receiving a one-year contract extension in February, many wonder if that move was premature given the team’s disappointing performance this season. Let’s dive into the details of his contract, salary, buyout, net worth, and whether Rutgers should consider firing him as some fans are suggesting.

Contract and Salary

Pikiell’s recently signed extension now sees him committed to Rutgers until the 2030/31 season. His eight-year deal is worth an impressive $30.8 million. For the period between April 1, 2023, and March 31, 2024, Pikiell’s salary stands at $3,250,000.

However,there is also an opportunity for Pikiell to earn extra incentives which include appearing in the NCAA tournament, winning either the Big Ten tournament or the Big Ten regular season championship, and winning Coach of the Year honors. In total, Pikiell could earn up to $455,000 in additional incentives.

Buyout

According to USA Today, should Rutgers choose to terminate Pikiell without cause, as of April 1, 2023, they’ll face a hefty buyout of $30.75 million. Should other teams come knocking, and want to hire Pikiell, his buyout stands at $15 million. This seems like a huge incentive for both to stick with one another through thick and thin over the next few years.

While Pikiell has experienced some success during his time with Rutgers, his recent performance leaves much to be desired. In the 2021/22 season, the Scarlet Knights barely made the First Four in the NCAA Tournament. This year, they failed to qualify for the big dance and were eliminated in the first round of the National Invitation Tournament (NIT) by Hofstra.

Because of these setbacks, many Rutgers fans are still calling for Pikiell’s head, while others are quick to leap to his defense. However, the substantial buyout means he’s unlikely to go anywhere soon, and perhaps rightfully so. Pikiell has earned the right to be in his position, and it’s essential to consider the progress he’s made with the program.

Net Worth

As for Pikiell’s net worth, it’s estimated to be around $5 million. While his lucrative contract with Rutgers undoubtedly contributes to this figure, other factors play a role too. Pikiell’s years of coaching experience and various endorsements likely add to his net worth.

Furthermore, investments and real estate holdings may also contribute to his overall wealth.

While some Rutgers fans may be disappointed with the team’s recent performance under Steve Pikiell, it’s crucial to consider the bigger picture.

The substantial buyout attached to his contract, combined with the progress he’s made with the program, means Pikiell isn’t likely to be fired anytime soon. Rather, the focus should be on providing Pikiell with the resources and backing he needs to navigate these obstacles and continue fostering a formidable basketball program.

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