Hunter Yurachek breaks down how John Calipari contract impacts Bud Walton Arena renovation
Arkansas athletic director Hunter Yuracheck knows a renovation to Bud Walton Arena comes at a price.
John Calipari’s contract could impact that, but not exactly financially. Yurachek made sure to mention the financial commitment to Calipari and the basketball team was different from a campaign to get renovations going within the arena.
It’s two separate means of raising money at this point.
“Well, two separate funds quite honestly,” Yurachek said. “We’re gonna go on a capital campaign eventually once we get a final design for the renovation to Bud Walton arena. And so that’s a totally separate capital campaign that will undertake sometime later this year. So I don’t foresee it impacting the renovation of Bud Walton arena, but we have to make sure that right now, investing in bricks and mortar may not be the best decision as opposed to investing in our student athletes. And so I’ve really got to balance those two options.”
The arena itself has a lot of history to the university.
“Ground breaking to grand opening was accomplished in a remarkable 18 months,” a description of the arena reads. “The Razorbacks played in Bud Walton for the first time in November of 1993. Everything went perfectly during the first full year. Not only did Arkansas men’s team sell out the arena, the Razorbacks were unbeaten in their new home (16-0) and won the 1994 national championship.
“Bud Walton Arena houses a deluxe museum on the ground level that includes a tribute to Arkansas’ 1994 NCAA Men’s Championship and multiple Final Four appearances by both programs as well as the history of Razorback basketball, track and field, baseball, tennis and golf. Eye-catching displays on the concourse level salute recent Razorback highlights.”
ESPN’s Jeff Borzello provided more on Calipari’s new contract.
“Calipari has signed a five-year contract to lead the Razorbacks with a salary beginning at $7 million per season,” Borzello wrote. “The contract runs through April 30, 2029 with a maximum of two automatic rollover years for NCAA Tournament appearances that would extend the contract to 2031.
“The deal includes a $1 million signing bonus and features retention bonuses of $500,000 each year of the contract along with one-time bonuses for making the NCAA Tournament, reaching the second round, Sweet 16, Final Four and winning a national championship.”
USA Today’s Steve Berkowitz revealed more details regarding Calipari’s contract. The $7 million, excluding retention, is guaranteed to the coach at 75% should he be fired without cause.
Also, if Calipari leaves Arkansas, he owes $6 million.