After spending four years at Nevada, Eric Musselman will be moving east after signing a five-year contract with Arkansas, replacing Mike Anderson.
Stadium obtained Musselman’s signed offer letter via public records request.
The contract term runs through April 30, 2024 but the term will be extended by one year if the Razorbacks make the NCAA Tournament.
Musselman’s annual salary will be $2.5 million and his annual compensation will be increased by $100,000 (not to exceed a total increase of $200,000 over the term of the contract) if Arkansas competes in the NCAA Tournament. Arkansas and Musselman also agreed that the university would pay up to $1 million if required by Musselman’s previous contract with Nevada.
Musselman will have the ability to earn performance-based incentives, which are outlined below.
- $100,000 – Win the SEC regular season championship
- $100,000 – Win the SEC Tournament
- $25,000 – Win SEC Coach of the Year
- $50,000 – Win National Coach of the Year
- $100,000 – For an NCAA Tournament appearance
- $250,000 – For a Sweet 16 appearance
- $350,000 – For a Final Four appearance
- $500,000 – For winning the national championship
- $25,000 – Graduate 90% or more of student-athletes in academic year in which they exhaust their eligibility
- $12,500 – Graduate 80% to 89% of student-athletes in academic year in which they exhaust their eligibility
If Arkansas fires Musselman, he’ll receive 70 percent of his remaining annual compensation from the effective date of his termination to the end of the contract term.
Musselman’s contract stipulates that if he chooses to leave Arkansas, he won’t accept a job in any coaching capacity with any other SEC school prior to the end of his contract term in April 2024 and any mutually agreed upon extensions of the contract term. It also includes an agreement that if Musselman leaves Arkansas, neither he nor anyone acting on his behalf won’t try to recruit any prospective student-athlete who was previously contacted or recruited by Arkansas for one year after Musselman’s contract is terminated, unless his new school previously recruited the student-athlete.
If Musselman leaves Arkansas, he’d owe Arkansas the following liquidated damages:
- $5 million – Through April 30, 2021
- $1.5 million – May 1, 2021 through April 30, 2022
- $1 million – May 1, 2022 through April 30, 2024
- $750,000 – May 1, 2024 through the end date of any extensions