Kansas State men's basketball looks a little different this season thanks to the addition of first year head coach Casey Alexander. So far, he's worked some magic on the recruiting trail and in the transfer portal. But if he can win, what's the cost? The answer is in the contract.
Details of Casey Alexander’s Contract, and How It Stacks Up
Alexander's contract as the head coach of the Wildcats spans five-years, and sits at $17 million. Compare that to his time at Belmont, and it's definitely a step up.
According to a 2023 report by the Belmont Vision, Alexander was the university's top earner in the 2023 fiscal year and the highest paid coach in the Missouri Valley Conference. His annual salary at the time totaled $1.16 million.
In his first season with the Wildcats, that figure will more than double. In 2026-27, he's expected to earn north of $3 million. As fans might expect, there are also some incentives.
Alexander's incentives at Kansas State
Should he finish with 25 or more wins, there's a $25,000 bonus. Finish top-10 in the rankings at the end of the season: $50,000.
Here's where things get crazy. Should the Wildcats reach the Elite Eight, there's a $200,000 bonus. Double that for a Final Four run in his first season, and triple it for a national championship.
But there's a catch. Only one of the final three incentives in his contract can be collected. If the Wildcats lose in the Final Four, he'll only collect the bonus for the Elite Eight. The same applies for the Final Four and national championship bonuses.
There are also incentives for NCAA Tourament bids, second round advancements and even a Sweet Sixteen appearance. If all three are in store his first season, Alexander will earn another $150,000.
Did Kansas State pay a buyout?
The same report by the Topeka Capital-Journal also indicates that Alexander's former team, the Belmont Bruins, received a buyout of $600,000. Should he be fired at Kansas State without cause, there is also listed compensation.
If the two parties decide to part ways after the first season, Alexander is owed $4 million. That number decreases by $1 million per season through the end of his contract.
Compared to the situation with former head coach Jerome Tang, it’s a night-and-day difference. Tang’s buyout soared to an almost absurd $18.675 million, putting Alexander’s deal in a completely different financial tier.
So long as the first-year head coach keeps winning, fans won't need to worry about that clause. Even still, it would need more than just one season for things to go that far south.
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