LSU Coach Matt McMahon Gets $20.3 Million Over 7 Years With Additional Year, Depending On Seriousness Of NCAA Penalties
New LSU basketball coach Matt McMahon just got a $2.1 millon raise. So what if the source of the raise could be receiving serious NCAA sanctions within the next year for Level I violations?
McMahon, 43, is still richer and protected.
McMahon, who agreed to leave Murray State and become LSU's coach on Monday, will make a $2.6 million salary over the next year with that increasing to $2.7 million for the 2023-24 season and incrementally up through 2028-29 when he will make $3.2 million. His total salary package will be $20.3 million over seven years, counting a $400,000 yearly base and not counting bonus money for any SEC championships and reaching various levels in the NCAA Tournament. His average yearly salary will be $2.9 million, excluding any bonus money.
He had one year left on his contract at Murray State with a $500,000 salary. LSU agreed to pay Murray State any buyout McMahon may owe with his exit from the school.
LSU's athletic department released McMahon's term sheet to OutKick on Tuesday after a public records request.
"My family and I are extremely excited to join the Baton Rouge community and lead the LSU basketball program forward," McMahon said Monday before attending the LSU women's NCAA Tournament basketball game at the Pete Maravich Assembly Center that Ohio State won.
"I'm excited to join the best athletic department - and the most iconic brand - in all of college sports," McMahon said.
That brand, though, has been under intense fire for years, and two weeks ago received the feared Notice of Allegations from the NCAA that included six Level I violations by the men's basketball program and coach Will Wade, who was fired a few days later. The dreaded "lack of institutional control" is also included.
McMahon will get an eighth year added to his contract should LSU receive "a post-season ban for two or more years or a scholarship reduction of two or more scholarships for three or more years, as a result of actions that occurred prior to the start date of this contract (March 25)," the term sheet states.
The NCAA is expected to schedule a hearing for LSU over the next several months.
McMahon will receive a $50,000 bonus for winning the SEC regular season title or the SEC Tournament title throughout the length of his contract. There will also be a bonus of $50,000 for an NCAA Tournament appearance and an additional $50,000 bump for each step up to the national championship game. Should LSU win a national championship under McMahon, that bonus jumps to $100,000.
If he is named national coach of the year, a $50,000 bonus follows. For SEC coach of the year, the bonus is $25,000. There is also a $50,000 bonus for an academic progress rate exceeding 930. McMahon will receive a courtesy vehicle or a vehicle allowance of $999 per month in addition to moving expenses and temporary housing.
Should LSU choose to terminate McMahon's employment without cause, it will pay McMahon 80 percent of the remaining salary. If LSU fires McMahon with cause, as it fired Wade, it will owe him nothing.
"We are excited to welcome Matt, Mary (his wife) and their three children to Baton Rouge," LSU athletic director Scott Woodward said. "We are ready to work together to write the next championship chapter for LSU Basketball."