College Basketball
UCLA Basketball Coach Mick Cronin Contract, Salary, Buyout, and Net Worth
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All posts by David EvansUpdated09 Mar 2023
Mick Cronin was named the UCLA Men’s Head Basketball Coach in April of 2019. Prior to joining UCLA, he coached at Murray State and Cincinnati, where he led the team to nine consecutive NCAA tournaments. In the three full seasons Cronin has been at UCLA, the team has reached both of the NCAA tournaments held in that time, including a Final Four appearance in 2021. Here, we take a closer look at Mick Cronin’s contract, salary, buyout, and net worth.
Contract and Salary
Cronin signed a new six-year contract worth $24.6 million with UCLA in March of 2022. That will keep him at the university through the 2027-28 season. Although the financial terms of the contract were not initially announced, it is now known that he will earn an annual salary of $4.1 million across each of the next six seasons. This puts Cronin among the highest-paid coaches in college basketball.
Incentives
Cronin’s contract includes various incentives to motivate him to achieve certain performance targets and milestones. These incentives include bonuses for winning championships, conference titles, and individual coaching awards. Additionally, there are incentives tied to academic performance, such as a bonus for maintaining a certain team GPA.
Cronin can earn up to $345,000 per season in cumulative performance bonuses, including:
- $10,000 for Pac-12 Coach of the Year
- $25,000 for Pac-12 regular-season championship
- $15,000 for Pac-12 tournament championship
- $35,000 for making the NCAA tournament
- $25,000 for making the NCAA tournament Round of 32
- $25,000 for making the NCAA tournament Sweet 16
- $25,000 for making the NCAA tournament Elite Eight
- $50,000 for making the NCAA tournament Final Four
- $25,000 for making the NCAA tournament championship game
- $50,000 for winning an NCAA championship
- Academic performance of Cronin’s student-athletes could also give him an additional bonus as high as $60,000
Buyout
The contract also includes a reciprocal buyout in which either side would have to pay up to $24 million if they terminate the deal early. This amount decreases each year until the end of the contract in 2028. Here are the details of the buyout by year:
- $24 million before March 31, 2023
- $20 million before March 31, 2024
- $16 million before March 31, 2025
- $10 million before March 31, 2026
- $6 million before March 31, 2027
- $2 million before March 31, 2028.
Net Worth
Cronin’s net worth is estimated to be around $20 million, earned through his coaching career at various universities. The new contract and incentives indicate a strong commitment from both UCLA and Cronin to continue their partnership in the coming years and boost Cronin’s net worth even further.
As he leads the Bruins into the NCAA tournament again this year, Cronin is focused on building a culture of success and competitive greatness at UCLA, with the goal of becoming national champions and one of the elite programs in college basketball.
