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New Mizzou basketball coach Dennis Gates’ contract averages $2.75M annually

Missouri Gates Basketball
Posted at 4:06 PM, Mar 29, 2022
and last updated 2022-03-29 17:06:15-04

KANSAS CITY, Mo. — Dennis Gates, the new University of Missouri men’s basketball coach, signed a six-year contract that will pay him an average of $2.75 million per year, according to a memorandum of understanding with the school’s athletics department.

Gates, 42, who went 50-40 in the last three seasons at Cleveland State University, will receive $2.5 million next season with a $100,000 escalator each year through 2027-28, when he’ll be paid $3 million.

It’s a substantial raise from the $550,000 annual salary he received with the Vikings, who offered him a six-year contract extension in May 2021.

Gates’ contract with the Tigers also includes up to $655,000 in annual incentives:

  • $50,000 for academic/social goals;
  • $100,000 for a regular-season SEC championship;
  • $25,000 for an SEC Men’s Basketball Tournament championship;
  • $25,000 for making the NCAA Division I Men's Basketball Tournament with nonculmulative bonuses for tourney performance (Sweet 16, $25,000; Elite Eight, $50,000; Final Four, $75,000; national champions, $200,000);
  • $50,000 for SEC Coach of the Year;
  • $100,000 for national coach of the year;
  • $25,000 for at least 25 wins, which bumps to $50,000 at 30-plus wins;
  • $30,000 for 14 or more SEC wins;
  • $25,000 for ticket revenue in excess of $8 million.

Gates was introduced as Cuonzo Martin's replacement during a news conference last week at Mizzou Arena in Columbia.

Missouri Gates Basketball
Dennis Gates, right, speaks during a news conference introducing him as the new head basketball coach at Missouri Tuesday, March 22, 2022, in Columbia, Mo. The university is hiring Gates away from Cleveland State to help rebuild a long-floundering program that has churned through seven head and interim coaches since Norm Stewart prowled the sidelines in Columbia.

Martin and the Tigers parted ways after five seasons. MU went 78-77, including 11-21 last season, during his tenure, which included two appearances in the NCAA tourney.

Gates' contract also calls for $915,000 for staff salaries — including three assistant coaches, a strength and conditioning coach, a director of basketball operations and a director of video operations.

Gates, who had $525,000 for staff salaries at Cleveland State, twice won Horizon League Coach of the Year after his arrival from Florida State, where he served as an assistant for Leonard Hamilton for eight seasons.

Mizzou also agreed to pay Cleveland State a $600,000 buyout, which was stipulated in the contract extension signed last year.

Gates’ contract also includes a range of standard fringe benefits — a country club membership, two courtesy cars or a $600 stipend per vehicle, 10 premium tickets to each home men’s basketball game and eight premium tickets to each home football game.

Here is a copy of the full memorandum of understanding: