Ben McCollum agrees to 6-year contract with starting pay of $3.35M

[QChawks]

IOWA CITY, Iowa (AP) - Iowa men’s basketball coach Ben McCollum agreed to a six-year, $22.75 million contract that runs through the 2030-31 season, according to the memorandum of understanding he signed last month.

The document, obtained Friday through an Associated Press public records request, outlines a pay package that lists McCollum’s base salary at $500,000 each year with supplemental pay that increases annually. His formal contract was not available for release, the university said.

McCollum will earn $3.35 million in his first year, with his compensation rising to $4.1 million in the sixth year.

McCollum would be in line for six-figure bonuses if the Hawkeyes reach the NCAA Sweet 16, topped by $400,000 for winning the national championship. A Big Ten regular-season title would earn him $75,000 and a conference tournament championship $50,000. Additional bonuses are tied to his players’ academic performance.


He will have a salary pool of about $2.1 million for assistant coaches.

McCollum, whose hiring was announced March 24, led Drake to the Missouri Valley Conference regular-season and tournament championships and a win in the NCAA Tournament in his only season with the Bulldogs.

Athletic director Beth Goetz announced McCollum’s hiring 10 days after she fired Fran McCaffery and two days after McCollum wrapped up a 31-4 season with a loss to Texas Tech in the second round of the West Regional.

 

[Franisdaman]

IOWA CITY, Iowa (AP) - Iowa men’s basketball coach Ben McCollum agreed to a six-year, $22.75 million contract that runs through the 2030-31 season, according to the memorandum of understanding he signed last month.

The document, obtained Friday through an Associated Press public records request, outlines a pay package that lists McCollum’s base salary at $500,000 each year with supplemental pay that increases annually. His formal contract was not available for release, the university said.

McCollum will earn $3.35 million in his first year, with his compensation rising to $4.1 million in the sixth year.

McCollum would be in line for six-figure bonuses if the Hawkeyes reach the NCAA Sweet 16, topped by $400,000 for winning the national championship. A Big Ten regular-season title would earn him $75,000 and a conference tournament championship $50,000. Additional bonuses are tied to his players’ academic performance.


He will have a salary pool of about $2.1 million for assistant coaches.

McCollum, whose hiring was announced March 24, led Drake to the Missouri Valley Conference regular-season and tournament championships and a win in the NCAA Tournament in his only season with the Bulldogs.

Athletic director Beth Goetz announced McCollum’s hiring 10 days after she fired Fran McCaffery and two days after McCollum wrapped up a 31-4 season with a loss to Texas Tech in the second round of the West Regional.

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what's the buy out figures?

 

[QChawks]

what's the buy out figures?

His formal contract was not available for release, the university said.

 

[Franisdaman]

McCollum's annual buyout starts at $5 million in 2026 and decreases by $1 million each year afterward.

 

[desihawk]

did we get a good deal or did we get barta-ed?

 

[QChawks]

did we get a good deal or did we get barta-ed?

seems like a good deal

Barta would have gave him 15 years all guaranteed

 

[Gus is dead]

I'm glad we got him at all with all his other suitors. Seems to me we got a pretty good deal.

Way happier with this deal than the DeVries WVU buyout plus contract crap.

 

[HoustonREDHawk]

A bargain compared to DeVries. Seems like a very reasonable contract to me.

 

[Herky T Hawk]

This is a prove yourself contract and that is great. He’s getting paid, but not some insane amount(by Big ten standards). And you know that if he proves himself the money and contract extension will come.

 

[Mohawkeye]

$400,000 for winning a NT? $75,000 for a Big title? Seems damn cheap. I’d double his salary if he does either.

 

[Fan In Black]

wow. thats a great deal.

 

[SCHawkFan]

did we get a good deal or did we get barta-ed?

If Ben doesn't win big at Iowa, no one will. I think he will be Iowa’s Izzo.

 

[Smigamorski]

$400,000 for winning a NT? $75,000 for a Big title? Seems damn cheap. I’d double his salary if he does either.

If he wins a Natty, hes getting a new deal.

 

[Hawksfor3]

If he wins a Natty, hes getting a new deal.

CC: @EvilMonkeyInTheCloset.

 

[BrotherHawkeye]

Fair deal for both. The reliability of this site is unknown, but it reported that his salary, probably base, at NW Missouri for the 23–24 season was $275,000. He’ll make plenty more when he starts putting together successful seasons on top of each other.
My sense is the negotiations were pretty easy.

 

[Birky]

Fair deal for both. The reliability of this site is unknown, but it reported that his salary, probably base, at NW Missouri for the 23–24 season was $275,000. He’ll make plenty more when he starts putting together successful seasons on top of each other.
My sense is the negotiations were pretty easy.

Good Lord! That has to be a bizarrely high DII salary?

 

[icwesthawk]

$400,000 for winning a NT? $75,000 for a Big title? Seems damn cheap. I’d double his salary if he does either.

Feel free to do that

 

[2bagger22]

Fair deal for both. The reliability of this site is unknown, but it reported that his salary, probably base, at NW Missouri for the 23–24 season was $275,000. He’ll make plenty more when he starts putting together successful seasons on top of each other.
My sense is the negotiations were pretty easy.

No way he made $275k at NWSU. Likely well compensated and below $200k. Happy to be wrong if you provide a link.

 

[BrotherHawkeye]

No way he made $275k at NWSU. Likely well compensated and below $200k. Happy to be wrong if you provide a link.

Thomas, I can track it down if you need to see it. But as I wrote, I can’t verify the accuracy of the site.

I will note that he was there for 15 years and he did win 4 national championships, so it wouldn’t be shocking. And, that is still less than 10% of his Iowa salary, so $275K is not that much.

 

[Packer54]

I think Ben making $3.35 million as a base to be at a dream job has to feel fantastic to him. Given his drive there is also nowhere to go but UP as far as he is concerned. I really feel like this is the start of something very special. Roll with some of the speed bumps ahead Hawk fans. Give the guy some time to do his work and lay the foundation for what we all want this program to be. I believe we have the right guy to get it done.

 

[hawkjt]

Lick was here 3 yrs and got a 2.4 million buyout back in 2009.
If we fire Ben after 3 years he will get 2 million in 2028?
Great contract for Iowa.

 

[TailgateTom]

No way he made $275k at NWSU. Likely well compensated and below $200k. Happy to be wrong if you provide a link.

I actually read the same numbers somewhere online (not a message board or social media)

 

[2bagger22]

Thomas, I can track it down if you need to see it. But as I wrote, I can’t verify the accuracy of the site.

I will note that he was there for 15 years and he did win 4 national championships, so it wouldn’t be shocking. And, that is still less than 10% of his Iowa salary, so $275K is not that much.

I actually read the same numbers somewhere online (not a message board or social media)

$175k

Benjamin McCollum | GovSalaries

Information about Benjamin McCollum working as for Northwest Missouri State University.

govsalaries.com

 

[BrotherHawkeye]

$175k

Benjamin McCollum | GovSalaries

Information about Benjamin McCollum working as for Northwest Missouri State University.

govsalaries.com

Good for you. 😊

 

[TailgateTom]

$175k

Benjamin McCollum | GovSalaries

Information about Benjamin McCollum working as for Northwest Missouri State University.

govsalaries.com

That link said $185, but that’s neither here nor there. Do you know if that was only his base contract? If he had $90K in bonuses and incentives, the $275 would seem like a reasonable number. Would those even be included in that number (I have no idea how that works) Do you know what he made at drake by chance?

 

[2bagger22]

That link said $185, but that’s neither here nor there. Do you know if that was only his base contract? If he had $90K in bonuses and incentives, the $275 would seem like a reasonable number. Would those even be included in that number (I have no idea how that works) Do you know what he made at drake by chance?

I doubt a regional university is giving out $90k in bonuses, even for 4 national championships.
Not sure what BMC made last year at Drake, but DeVries made $670k in his final year there.

 

[perryhawk]

Good Lord! That has to be a bizarrely high DII salary?

Well if you’re winning repeated NATIONAL CHAMPIONSHIPS they should probably pay a pretty decent salary!

 

[Birky]

Well if you’re winning repeated NATIONAL CHAMPIONSHIPS they should probably pay a pretty decent salary!

It’s DII.

It doesn’t matter how well you flip burgers. The pay at McDonalds can only get so high.

I have a feeling you could win 20 national championships at NWMST, and the revenue will not demand a salary if $300k. I’m pretty sure they’re never charging $30 a ticket in Maryville, and the TV revenue isn’t seven figures.

 

[onlyTheObvious]

Well if you’re winning repeated NATIONAL CHAMPIONSHIPS they should probably pay a pretty decent salary!

But DII sports is a money pit and used as a source of students.

My guess is some alumni were involved for a lot of that.

 

[jberesford]

It’s DII.

It doesn’t matter how well you flip burgers. The pay at McDonalds can only get so high.

I have a feeling you could win 20 national championships at NWMST, and the revenue will not demand a salary if $300k. I’m pretty sure they’re never charging $30 a ticket in Maryville, and the TV revenue isn’t seven figures.

They have games on TV?

And yes, it's D2. There is no amount of success that makes it profitable. As someone else said, maybe there are some alumni fans with decent coin. If they subsidize it then maybe. I figure a lot of D2 coaches probably have to teach a class there as well...

 

[Birky]

They have games on TV?

And yes, it's D2. There is no amount of success that makes it profitable. As someone else said, maybe there are some alumni fans with decent coin. If they subsidize it then maybe. I figure a lot of D2 coaches probably have to teach a class there as well...

Not that I’m aware of, which really cuts into the TV revenue.

 

[HoustonREDHawk]

It’s DII.

It doesn’t matter how well you flip burgers. The pay at McDonalds can only get so high.

I have a feeling you could win 20 national championships at NWMST, and the revenue will not demand a salary if $300k. I’m pretty sure they’re never charging $30 a ticket in Maryville, and the TV revenue isn’t seven figures.

Curious, what are ticket prices to Iowa Men's BB games--general admission, students, prime seats?

 

[desihawk]

Lick was here 3 yrs and got a 2.4 million buyout back in 2009.
If we fire Ben after 3 years he will get 2 million in 2028?
Great contract for Iowa.

it’s not like bmac or agent were unaware, so i would take it as great confidence in himself from ben…and that there’s zero chance he tanks

 

[perryhawk]

It’s DII.

It doesn’t matter how well you flip burgers. The pay at McDonalds can only get so high.

I have a feeling you could win 20 national championships at NWMST, and the revenue will not demand a salary if $300k. I’m pretty sure they’re never charging $30 a ticket in Maryville, and the TV revenue isn’t seven figures.

Well that analogy is so far off, it’s not even an analogy.

They obviously were paying him a really good salary and……they were willing and able to pay for the success. I have no idea how they funded it, but obviously there were people that felt he was worth it.

 

[Birky]

Well that analogy is so far off, it’s not even an analogy.

They obviously were paying him a really good salary and……they were willing and able to pay for the success. I have no idea how they funded it, but obviously there were people that felt he was worth it.

The McDonalds one? It was supposed to be as far off as possible.

I’m not arguing with his salary. I’m suggesting it was probably maxed at 275k, or whatever it was.

He could win the National Title every year, and basketball was probably losing money.

 

[Birky]

Curious, what are ticket prices to Iowa Men's BB games--general admission, students, prime seats?

General admission is $25-40.

 

[HoustonREDHawk]

General admission is $25-40.

Students aren't cheaper?

 

[Birky]

Students aren't cheaper?

For sure. No idea what they are exactly.

 

[BrotherHawkeye]

I inadvertently diverted a discussion on McCollum's contract at Iowa with a comment about what I saw he was getting at NWMST. My point wasn't to reflect the accuracy of what he was making there, but rather the stark contrast to what he was getting at Iowa over what he was making at Maryville, regardless of the actual amount. It was probably one of the reasons the negotiation were likely relatively simple. He was getting a huge bump compared to what he was making just 15 months before; he wanted to be at Iowa, and probably never envisioned it would happen, let alone so quickly; and everything I've read about him or heard from him, he's not in this for the money - not that he's against making money, but it's not his motivator. Glad Iowa has him. In the end, I think it all worked out for Iowa for the best.

 

[HoustonREDHawk]

I inadvertently diverted a discussion on McCollum's contract at Iowa with a comment about what I saw he was getting at NWMST. My point wasn't to reflect the accuracy of what he was making there, but rather the stark contrast to what he was getting at Iowa over what he was making at Maryville, regardless of the actual amount. It was probably one of the reasons the negotiation were likely relatively simple. He was getting a huge bump compared to what he was making just 15 months before; he wanted to be at Iowa, and probably never envisioned it would happen, let alone so quickly; and everything I've read about him or heard from him, he's not in this for the money - not that he's against making money, but it's not his motivator. Glad Iowa has him. In the end, I think it all worked out for Iowa for the best.

Yep, I think Iowa is BMc's dream job, and I think he plans to stay for a long time.