Indiana’s Davis Gets $300K Incentive
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INDIANAPOLIS (AP) _ Less than a week after signing a new six-year contract, Indiana coach Mike Davis agreed to another $300,000 incentive clause on Wednesday.
Davis will receive an additional $100,000 in the fourth, fifth and sixth years of the contract _ if he remains the Hoosiers’ coach. Davis initially thought the incentive was included in the contract he signed last week that makes him one of the Big Ten’s four highest-paid coaches.
When he learned it wasn’t, Davis and the university agreed to add the $300,000 provision to the contract.
``It was brought up late on Friday and by Tuesday everything was already taken care of,″ Davis said. ``I am excited about being a part of Indiana basketball well into the future.″
The incentive will increase Davis’ guaranteed salary from $800,000 in each of the first three years to $900,000 in the last three years.
Davis replaced Bob Knight as coach in September 2000 and led the Hoosiers to a 21-13 record. Indiana went 25-12 last season and reached the NCAA championship game, losing 64-52 to Maryland.