CU Regents OK Patton’s $586,000 Deal
BOULDER, Colo. (AP) _ Colorado men’s basketball coach Ricardo Patton will receive a compensation package worth $586,000 a year under a three-year contract extension approved Thursday by the Board of Regents.
The first year of the extension, which starts in July 2004, includes a base salary of $153,250 and $150,000 in deferred compensation and performance incentives.
The first year also includes $129,550 in a Nike allowance, $117,395 for TV and radio appearances, $28,800 supplemental salary for promotions and fund-raising and a $7,200 auto allowance.
Patton’s current contract expires next June. Previous estimates place it at about $600,000 annually.
The extension will keep him with the Buffaloes through the 2007-08 season.
Colorado had wanted a provision allowing the school to fire Patton if the Buffaloes don’t go to the NCAA tournament twice in three seasons, beginning in 2004-05. Instead of getting a full five-year term, Patton agreed to three years without the tournament provision.
Patton, 44, is 125-103 in eight seasons at Colorado, which he has led Colorado to two NCAA tournament berths, two NIT appearances and two of the school’s three 20-win seasons.