Smith Signs New Six-Year Package
July 12, 2001
University of Kentucky men's basketball coach Orlando "Tubby" Smith made it official Wednesday, signing a new six-year contract with the school, Athletics Director Larry Ivy announced. UK president Charles Wethington approved the contract today.
The contract replaces the two years remaining on his existing contract and the total package is estimated at approximately $1.5 million annually. In addition, the contract calls for a $1 million loyalty bonus should the 49-year-old Smith complete the next six seasons.
"I'm very excited to have this new extension," Smith said. "As I've said on numerous occasions, this is the best job in college basketball and this is where I want to coach."
Smith took over the program in May 1997 and won the 1998 NCAA Championship in his first season. In addition, he's won three Southeastern Conference Championships and three SEC Tournament titles during his four years at Kentucky while compiling a 110-33 (76.9%) record.
"We're obviously pleased to get this new contract completed," Ivy said. "We know we've got one of the best coaches in America and we're glad he's here. We're looking forward to continued success."