KANSAS CITY, Mo. — The University of Kansas announced Friday that men’s basketball coach Bill Self has signed a lifetime contract.
Self's existing contract had been set to expire in March 2022 before he reached an agreement that was finalized Thursday with KU for a new five-year rolling contract, which will automatically add one year to his contract at the end of each season until he retires.
“Every day, I am reminded just how fortunate I am to lead this storied program and there truly is no place else I would rather be,” Self said in a statement announcing the new deal. “As we continue to work through the challenges facing our program, we look forward to moving ahead and focusing on our bright future.”
Former Kansas football coach Les Miles and former athletic director Jeff Long were terminated last month amid fallout from an investigation into Miles' conduct toward female student employees during his tenure at LSU.
Self has coached the Jayhawks for 18 seasons, leading the program to 15 Big 12 titles and 17 NCAA Tournament appearances.
There was no NCAA Tournament in 2020 due to the COVID-19 pandemic, but KU would have qualified and been among the favorites to win the championship.
“We are certainly proud that he began his coaching career as a graduate assistant at KU in 1985 and that this new contract will ensure he finishes his coaching career here as well,” Interim Athletics Director Kurt Watson said in a statement.
Self's contract calls for a annual base salary of $225,000 plus an additional $2.75 million for "professional services," which includes promotional duties and name, image and likeness rights among other things.
Additionally, Self is due a $2.435 million on April 1 for every year that he is employed for a total of $5.41 million per year.
He also has incentives in place: $50,000 for a Big 12 regular-season title, $25,000 for a Big 12 tourney title, $100,000 for an Associated Press Coach of the Year award, $50,000 for making the NCAA tourney, $100,000 for reaching the Sweet 16, $150,000 for making the Final Four and $200,000 winning an NCAA championship.
The incentives are accumulative, giving Self a chance to rack up as much in $675,000 in incentives each year.
Self also agreed to receive an existing retention bonus in installments "in light of the economic challenges created by COVID-19." Instead of a $7.2 million lump sum, Self will receive $100,000 per month for the next seven years for a net of $8.4 million.
The fringe benefits in the contract also include $20,000 per month toward Self's Wheels Up account for the personal use of a private jet at his discretion. Any money remaining in the account when Self leaves the program remains his.
He also receives the standard vehicle allowances, country club memberships, game tickets and suite access along with a $4 million life insurance policy paid for by KU.
The deal comes as Self and the school await a decision from an independent panel into alleged NCAA infractions related to impressible benefits prospects received from Adidas to play for the Jayhawks.
The NCAA has accused Self of a series of Level I infractions, which he denies, and dinged KU for a "lack of institutional control."
A clause in Self's new lifetime contract titled "Current Infractions Case" was added to address the ongoing investigation:
"The parties agree Athletics will not terminate Head Coach for cause due to any current infractions matter that involves conduct that occurred on or prior to the date of full execution of this Agreement."
Instead, should Self be suspended by the NCAA or Big 12 conference "as a result og the pending NCAA infractions matter," he would have his salary halved during the term of his suspension.
Another clause in the contract does give the KU Athletic Department the right to terminate the contract without cause at any time.
The Associated Press contributed to this report.