Michigan State has officially locked up Tom Izzo. The legendary Spartans headman has signed a major new contract.
Izzo, 67, is signing a rolling five-year with a $2.43 million base salary per year, Michigan State announced Thursday. That number could go up to $5.92 million, according to the release. Since it’s a rolling contract, it makes Izzo a “Spartan for Life” contract, keeping him in East Lansing for the rest of his career.
“Twelve years ago, Tom Izzo said he would be a Spartan for Life, and today’s announcement further demonstrates and renews this commitment,” Michigan State athletic director Alan Haller said in a statement. “We have worked collaboratively to come up with a contract which benefits the University, Coach Izzo and his family.
“Not only is Tom Izzo a Hall of Fame basketball coach, he’s a terrific ambassador for Michigan State University and Spartan Athletics. He means a great deal to our university, our department, our community and Spartans around the world. Although his legacy is cemented with a championship-filled resume, it’s very clear that Coach Izzo’s hungry to accomplish even more and bring great pride to Spartans everywhere. Michigan State is beyond lucky to have Tom Izzo as our head basketball coach!”
Izzo started his career at Michigan State in 1995 and has a 666-267 career record with the Spartans. He has led them to eight Final Fours and a national championship in 2000.
“Michigan State has been a home to me and my family for 40 years and I’m ecstatic to sign this contract,” Izzo said in a statement. “It means a great deal to me that the Board of Trustees, President Stanley, Alan Haller and the University continue to have the confidence in our program as we strive to be not only the best men’s basketball team in the country, but to play a role in helping every program in the department achieve success.
“We have worked hard to maintain championship standards and I’m as energized to coach now as I was when I started as the head coach in 1995. When you look at the last 10-12 seasons in men’s basketball and football, both under Coach [Mark] Dantonio and Coach [Mel] Tucker, you’d be hard-pressed to find a school with more success. But I know the best is yet to come — not only for our two programs, but for the entire department. This is an exciting time for Michigan State and there’s no better place to be in college athletics, with the support we have from the University, our students, our community and the tremendous Spartan alumni. I love Michigan State and I am proud and excited to continue the hard work to bring another national championship to East Lansing.”