Michigan basketball's Juwan Howard to make $11.2 million with 5-year deal
Michigan basketball coach Juwan Howard has agreed to a five-year deal with the university that could be worth up to $11.2 million.
Howard signed a memorandum of understanding with the university on May 22, the same day his hiring was announced. The Free Press received his MOU via a Freedom of Information Act request.
While the MOU is not a formal employment contract, Howard's five-year deal runs through April 30, 2024.
His base salary is $400,000 each year, while his total compensation escalates with each season.
In Year 1, Howard will make $2 million. That jumps to $2.1 million in Year 2, $2.2 million in Year 3, $2.4 million in Year 4 and $2.5 million in Year 5.
If Michigan decides to moved on from Howard early, the buyout starts at $5 million in Year 1 and decreases each year. The buyout drops to $4 million in Year 2, $3 million in Year 3, $2 million in Year 4 and $1 million in Year 5.
U-M's buy-out would only be applied if Howard was terminated without cause.
In the case that Howard leaves U-M, he would owe the university a buy-out equal to 50 percent of U-M's buyout, or $2.5 million in Year 1, $2 million in Year 2, $1.5 million in Year 3 and so forth.
In his first head coaching job of any kind, Howard's annual salary is less than that of former coach John Beilein – a college head coach since 1982.
Last summer, U-M and Beilein finalized an extension that took him through the 2022-23 season at an annual salary of $3.8 million. There was no language in Beilein's contract that forced him to pay a buy-out fee upon his departure.
Based on a USA TODAY database of coaching salaries, Howard's contract will make him the 10th highest-paid coach in the Big Ten next season, behind Michigan State's Tom Izzo, Nebraska's Fred Hoiberg — who was hired this offseason — Indiana's Archie Miller, Ohio State's Chris Holtmann, Illinois' Brad Underwood, Maryland's Mark Turgeon, Purdue's Matt Painter, Wisconsin's Greg Gard and Iowa's Fran McCaffery. Beilein was the second-highest paid coach in the conference last season, before leaving to become head coach of the NBA's Cleveland Cavaliers.
Howard's assistant coaches will make a combined $1.155 million, according to MOUs obtained by the Free Press on Thursday. via Freedom of Information Act requests.
Phil Martelli is the highest-paid at $450,000, while Howard Eisley will make $375,000 and Saddi Washington $330,000.