Estimated read time: 2-3 minutes
- Alex Jensen's 6-year contract with Utah starts at $3.6 million annually.
- His salary includes base, appearance fees, and incentives, totaling $21.6 million.
- Jensen, eighth-highest paid in Big 12, will transition from Dallas Mavericks.
SALT LAKE CITY — The University of Utah dipped into its past to look to its future for the men's basketball program, and it comes with a hefty increase in salary for the head coach, according to contract details obtained by KSL.com.
Newly hired Runnin' Utes head coach Alex Jensen will make a minimum of $3.6 million per season, with a potential max of $4.35 million with incentives, over the life of a six-year contract that runs through March 31, 2031, with the university.
That's a $1.3 million increase from what former coach Craig Smith made his last season with Utah.
In total, Jensen will make $21.6 million (and $26.1 million max) over the six years. It also makes Jensen the eighth-highest paid coach in the Big 12, according to contracts obtained by USA Today.
Each year, Jensen will make $300,000 in base salary; $2.5 million in appearance fees, public speaking engagements and fundraising; $400,000 in an outfitter agreement; and $400,000 in a multi-media rights agreement.
He'll also have the opportunity to make up to an additional $750,000 in incentive-based compensation, which includes opportunities like a top-four finish in the Big 12, winning the conference, making the NCAA Tournament and several other items.
Additionally, as Jensen continues to work with the Dallas Mavericks — a short stint that will end when the Mavericks' season concludes — the university has included in his contract a "transition period" item that says he won't be required to work more than 10 hours per week while still in Dallas.
During that time, Jensen will only make 25% of his base and appearance fees salary while with the Mavericks. Once his time in Dallas concludes, or no later than June 30, he'll return to 100% of his salary.
Jensen receives the standard university benefits — which includes a car, smartphone and moving expenses — in addition to 12 season tickets to men's basketball and six season tickets to football.
A few days after Jensen was formally introduced as the program's new head coach, Jensen hired veteran assistant Raphael Chillious from the Memphis Grizzlies as his first assistant hire.
He's also expected to hire Wes Wilcox from the Sacramento Kings to be the program's general manager, according to a report from ESPN's Pete Thamel.
Jensen said he plans to "take my time" to put together a coaching staff and "do it right instead of rushing."
"In fact, I've talked to a lot of former college coaches that said that — take time with your staff and do it and get it right," he said.
