Pat Kelsey's Louisville contract details released

Contract details have been released for new Louisville basketball coach Pat Kelsey.

Provided by the Louisville Courier Journal’s Brooks Holton, the deal spans five years with Kelsey being paid out $2.3 million per season. The contract includes incentives labeled as one-time bonuses and additional benefits. The contract ends on March 15, 2029.

Kelsey will receive additional compensation for earning conference or coach of the year honors as well as winning ACC regular season or tournament championships. A handful of bonuses would be handed out by making the NCAA Tournament with payouts ranging between $50,000 and $500,000, being increased with each win.

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However, if Kelsey takes the Cardinals to the NCAA Tournament in any of his first three seasons, he will automatically earn a one-year contract extension (through 2030) at the same $2.3 million rate.

Additional benefits also include moving expenses, a life insurance policy worth $15 million, a membership to the ULGC golf course, a car allowance of $1,000 per month, a suite inside the KFC YUM! Center for all men’s basketball games, multiple complimentary season and post-season tickets to all men’s and women’s basketball and football games, as well as accommodating travel for his immediate family to attend road games.

Kelsey finished up his third season at College of Charleston, including two NCAA Tournament appearances. The Cougars have won 58 games in the past two seasons, even reaching 31 wins during the 2022-23 campaign.

Prior to his time at College of Charleston, Kelsey spent nine years as the head coach at Winthrop. He made two NCAA Tournament appearances there. The Eagles won at least 20 games in five of Kelsey’s nine seasons. In total as a head coach Kelsey has put together a 261-122 (.681) record.

Pat Kelsey ‘humbled and honored’ to be next Louisville head coach

“I am humbled and honored to be named the head coach at the University of Louisville,” Kelsey said in a press release. “I would like to thank Josh Heird, President Schatzel, the Board of Trustees and ULAA Board, former UofL players and all of Card Nation for entrusting me to lead one of the great programs in all of college basketball.

“Coaching giants that I have tremendous respect and reverence for led Cardinal basketball to national prominence during their era. It is my charge to help this great program return to its rightful place as one of college basketball’s best.”