On Thursday, IU Athletics disclosed Darian DeVries’ memorandum of understanding with the university containing the key terms for his forthcoming contract as head men’s basketball coach.
DeVries received a six-year deal worth $4.5 million per year on average, factoring in both base salary and outside, marketing, and promotional income. Per USA Today’s database, last updated March 13, would’ve made DeVries the 17th-highest paid coach in the nation this past season. Only five Big Ten coaches exceeded DeVries’ $4.5 million average: Tom Izzo (Michigan State), Mick Cronin (UCLA), Matt Painter (Purdue), Brad Underwood (Illinois), and Fred Hoiberg (Nebraska). New Maryland coach Buzz Williams also topped that mark at Texas A&M. Former IU coach Mike Woodson earned $4.2 million. DeVries ranked 48th in the country last season at West Virginia, making $2.9 million.
His bonus structure is as follows.
- DeVries gets a $125,000 bonus for winning a Big Ten regular season championship, whether shared or outright.
- He receives a $50,000 bonus for winning a Big Ten Tournament.
- He receives a $25,000 bonus or an NCAA Tournament bid.
- He gets $25,000 for an NCAA Tournament round of 64 victory.
- DeVries receives $35,000 for an NCAA Tournament round of 32 win.
- He gets $50,000 for a Sweet 16 win.
- He gets $125,000 for an Elite Eight victory to advance to a Final Four.
- DeVries would get $250,000 for winning a national championship.
- He’d earn a $50,000 bonus for winning Big Ten Coach of the Year, whether named by the coaches or media — but a consensus award would still yield just one $50,000 bonus.
- He’d earn an additional $50,000 for winning at least one major national coach of the year award (Naismith, AP, or USA Today).
DeVries also received $25,000 for moving expenses, along with a $50,000 signing bonus.
Should Indiana fire DeVries without cause, the university would owe him 80 percent of his remaining income on the contract.
His buyout to the university for resigning would be as follows.
- If DeVries resigned before March 15, 2026, he would owe IU $10 million.
- If he resigned between March 15, 2026 through March 14, 2027, he’d owe $8 million.
- Between March 15, 2027 and March 14, 2028, he’d owe $6 million.
- Between March 15, 2028 and March 14, 2029, he’d owe $3 million.
- Between March 15, 2029 and March 15, 2030, he’d owe $1 million.
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