Slick Rick Set To Get 4-Year Extension

University officials, along with The Courier-Journal and ESPN, are reporting that Slick Rick will get a 4-year extension as head coach of the University of Louisville basketball program and the deal will be announced tomorrow. Here’s an excerpt from C.L. Brown’s article in the Courier-Journal:

Pitino, 57, earned $2.25 million this season and has three years left on his current contract. His salary will increase to $2.5 million annually on July 1.

The terms of the extension were not revealed, though a source who asked to remain anonymous indicated the school wanted Pitino to retire as a Cardinal.

This is what the Slickster has said all along that the Derby City will be his last stop and it appears the University is still on board with Pitino. Rick is set to receive a $3.6 million loyalty bonus on July 1 and would receive the same amount again in 2013 if still at Louisville.

Coming off back-to-back Elite Eights and losing two lottery picks, Pitino still guided this team to a 20 win season and a fifth place finish in the Big East. With a new downtown arena, a good core of players coming back next season, and one of Pitino’s best recruiting classes on the way, the city of Louisville should have a lot to look forward to.

Many have speculated Pitino’s recruiting has been hurt due to persistent rumors of NBA teams courting him. While I’m not sure the extension will totally quell the rumors, it should help the Slickster assure recruits he will be at Louisville for quite some time.

Tags: extension, louisville, Pitino

Category: Louisville