Rick Barnes earns substantial bonus after Tennessee's win in the Round of 64

NCAA Tournament wins hold a ton of value for coaches, players, and programs. However, Tennessee’s opening-round victory, a 58-53 close call against Louisiana, was a little more valuable for head coach Rick Barnes.

Per Steve Berkowitz at USA Today Sports, Barnes picked up another bonus on his contract following last night’s Round of 64 win. It earned him an extra $200,000 and brought his total in bonuses this season to $500,000.

Tennessee coach Rick Barnes picks up $200,000 bonus for Vols advancing to NCAA men's round of 32, which they do after nearly squandering a huge lead against Louisiana.

Barnes now has $500,000 in bonuses so far.

— Steve Berkowitz (@ByBerkowitz) March 17, 2023

Barnes is in his eighth season in Knoxville with Tennessee the fifth school he has led over his 35-plus year head coaching career. In that time, he has helped the Volunteers earn 174 wins and five NCAA Tournament appearances.

With the success he has brought to the program, AD Danny White and the athletics department signed Barnes to a new extension following last season. It’s a deal that’s paying him $5.77 million a year and will retain him through the 2026-2027 season.

The bonuses on the deal are set up similarly to what he has been earning as this was Barnes’ fourth contract extension of the last five years. Comparatively, Barnes made a million dollars worth in bonuses last season thanks to a Top-5 finish in the final AP Poll ($400,000), winning the SEC Tournament ($200,000), and getting past the first round of the NCAA Tournament ($400,000).

Tennessee isn’t done yet, though. The expectations have shifted and, while Barnes has taken the Vols to new heights, they’re ready to take the next step when it comes to March. With that in mind, he could earn another payday, as well as some big-time support heading into next week, if he can lead UT to the Sweet 16 by getting past Duke in the Round of 32.

Barnes gives initial thoughts on Duke matchup

Tennessee survived on Thursday, escaping with a three-point win against Louisiana. There are plenty of questions facing the Volunteers, even after the win. At the moment, the most pressing one is the next matchup on Saturday, going up against the Duke Blue Devils.

Head coach Rick Barnes admitted he has not thought too much about the Round of 32 game. However, he does know how well Duke is playing at the moment, having one of the longest winning streaks in the country. Plus, coaches from around the league are backing Jon Scheyer’s squad.

“I haven’t thought a lot about it,” Barnes said. “They’re playing great basketball. I think they’ve won 10, 11, 12. 18 out of 19. Jim Boeheim has already said they’re going to go all the way. So, we got a big matchup.”