Details of Eric Musselman's contract extension with Arkansas revealed

Eric Musselman turned down the Arizona Wildcats job and is getting a nice contract extension to return to Arkansas.

The Razorbacks on Wednesday shared details of Musselman’s contract. The 56-year-old coach will make $4 million per year through 2026. His contract includes one-year options for 2027 and 2028 based on Arkansas making the NCAA Tournament.

He also will received bonuses based on team performance. Here is the structure of the bonuses:

• $100,000 for winning the SEC tournament or regular season
• $50,000 for reaching the NCAA Tournament’s round of 32
• $250,000 for reaching the Sweet 16
• $350,000 for reaching the Final Four
• $500,000 for winning the national championship

Musselman would owe money in a buyout:

• $7.5 million buyout if he leaves before end of 2021-2022 season
• $2 million buyout if he leaves before end of 2022-2023 season
• $1 million buyout if he leaves after 2023-2024 season
• He would receive a $1.5 million retention bonus if he is still the head coach in 2026

The interest Musselman received helped make him one of the highest-paid coaches in college basketball.

Musselman has coached the Warriors and Kings in the NBA. He had a successful four-year tenure at Nevada before taking the Arkansas job. The Razorbacks went 20-12 in his first season and 25-7 under him last season, reaching the Elite Eight. The Elite Eight finish was the best Arkansas has enjoyed since 1995.