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Ben McCollum is one of those to watch. The Iowa Hawkeyes coach signed a six-year, $22.75 million contract in May 2025 that runs through the 2030-31 season. After his success at Drake, McCollum led Iowa State to the Elite Eight this season. This is the Hawkeyes’ first deep into the NCAA tournament since 1987.
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McCollum’s deal includes a huge performance bonus and a high buyout structure during his coaching career. This is to prevent other schools from trying to poach him, especially since the program has made significant progress in his first year.
One of the schools most recently linked to McCollum is North Carolina. The program needs to take a step in the right direction after firing Hubert Davis. One of the main selling points is McCollum’s record to date at every level.
Ben McCollum buyout clause
According to USA TODAY Sports, McCollum’s contract with the University of Iowa includes a $4 million buyout if he leaves before April 1, 2027, with a buyout that decreases by $1 million each year through 2030 after that date, reaching $0 in 2031.
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If Iowa fires McCollum without cause, the school would owe him 80% of his remaining salary for the first three years and 60% for the final three years, offset by compensation for new employment.
Ben McCollum Incentives and Bonuses
This year has been good for McCollum. The Elite Eight earned him an additional $150,000. Here are some of the key bonuses in his contract, per the Des Moines Register.
regular season
$75,000 Big Ten regular season champion or tie for champion
Win $50,000 Big Ten Championship
NCAA Tournament
Get an NCAA Tournament invitation or $50,000 for your first four wins
Advance to Round of 32 in NCAA Tournament, $75,000 in Prize Money
NCAA tournament advance to Sweet 16, $100,000 bonus
$150,000 in prize money for advancing to the Elite 8 in the NCAA Tournament
$200,000 for NCAA Tournament Final Four advance
NCAA Tournament Advance to National Championship $300,000
NCAA tournament winner receives $400,000
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$25,000 if the annual interest rate is greater than or equal to 940
$50,000 if the annual interest rate is greater than or equal to 960
$75,000 if the annual interest rate is greater than or equal to 980
Coach of the Year
National Coach of the Year Bonus $50,000
Big Ten Coach of the Year bonus $25,000
