Report: Kevin Willard, Maryland working toward new contract with big raise, revenue-sharing budget

Amid rumors in the coaching carousel, Kevin Willard and Maryland are working toward a new contract, CBS Sports’ Jon Rothstein reported. The deal will include a big raise to make him one of the highest-paid coaches in the Big Ten, as well as a commitment to revenue-sharing.

In addition, Maryland is set to unveil a new practice facility. The $50 million building is another part of the agreement with Willard, which comes amid rumors about Villanova’s potential interest in hiring him to replace Kyle Neptune. ESPN’s Pete Thamel reported the school could express interest in Willard shortly after parting ways with Neptune.

The revenue-sharing portion of Willard’s new contract lines up with the landmark House v. NCAA settlement, which has a hearing set for next month for full approval. Under the agreement, schools will be able to directly share $20.5 million with athletes in 2025.

As for how those funds will be divided, On3’s Pete Nakos previously said schools are planning to distribute 75% to 85% toward football. That leaves 15% to 25% for other sports, and Georgia recently announced it would put 75% toward football and 15% toward men’s basketball, with 5% going to women’s basketball and 5% to the rest of the sports.

Kevin Willard’s current salary at Maryland is around $4 million, according to USA TODAY. That makes him the seventh-highest paid coach in the conference, just behind Indiana’s Mike Woodson. Woodson is leaving IU after this season, and with a new contract on the way, Willard is now expected to move up that list.

Willard is in his third season at Maryland and has the Terrapins back in the NCAA tournament for the second time in that span. This year has been his best yet in College Park, taking a 24-7 overall record into March Madness after falling in the Big Ten tournament semifinals in heartbreaking fashion against Michigan.

Prior to his time at Maryland, Willard had a decorated run at Seton Hall. He took the Pirates to five NCAA tournaments and likely would have had a sixth in 2020 before the event was canceled due to the COVID-19 pandemic. That season, Seton Hall won the Big East regular season title with a 21-9 overall record and a 13-5 mark in conference play.

Maryland is now getting ready to turn its attention to CBS for the Selection Show for March Madness. On3’s James Fletcher III projected the Terps as a No. 4 seed in his latest Bracketology.