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May 3, 2007

Pitino signs deal to stay at Louisville through 2013

LOUISVILLE, Ky. (AP) - Louisville men's basketball coach Rick Pitino signed a three-year contract extension Thursday that will keep him with the Cardinals through 2013.

The new deal increases Pitino's annual salary from $1.65 million to $2.25 million a year beginning next season and will pay Pitino $2.5 million a year if he stays until the end of the contract. The contract also boosted a loyalty bonus due Pitino on July 1 from $1 million to $1.75 million.

The 54-year-old Pitino is 142-58 in six seasons at Louisville and led the Cardinals to the 2005 Final Four. Louisville went 24-10 this past season, losing to Texas A&M in the second round of the NCAA Tournament. He is 494-182 in 21 seasons overall and won a national championship at Kentucky in 1996.

"I'm more energetic today than I was 20 years ago," Pitino said. "I'm excited about this basketball team and the opportunities we're going to have down the road."

Posted by Mike McDermott  at 11:41 AM to College Sports | Permalink

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