LUBBOCK, Texas – A Texas Tech spokesperson confirmed Friday that Texas Tech men’s basketball coach Grant McCasland has signed a six-year, $18.15 million deal that runs through the 2028-29 season.
McCasland will receive $2.9 million in the first year of the deal, with $50,000 in annual increases that will reach $3.15 million in the final season.
According to the contract, Texas Tech will pay North Texas $750,000 to buy out the remainder of McCasland’s contract.
The contract has multiple bonus opportunities that are capped annually at $500,000:
-Big 12 Championship (Reg Season): $75,000
-Big 12 Tournament Championship: $50,000
-NCAA Tournament (cumulative):
Round 1 (not First Four) Appearance: $50,000
NCAA Round 2 Appearance: $50,000
NCAA Sweet 16 Appearance: $50,000
NCAA Elite 8 Appearance: $50,000
Final Four Appearance: $75,000
National Championship Win: $150,000
-Final Ranking (USA Today Coaches or AP Poll):
Top 25: $10,000
Top 10: $25,000
-Big 12 Coach of the Year (AP or Coaches): $20,000
-National Coach of the Year (Naismith): $40,000
-APR (non-cumulative, beginning w/ 2023-2024 official data):
Annual APR – 950-970: $10,000
Annual APR 971+: $20,000
North Texas head coach Grant McCasland directs his team against UAB during the first half of a Conference USA men’s semifinal NCAA college basketball game in Frisco, Texas, Friday, March 10, 2023. (AP Photo/Michael Ainsworth) 
North Texas head coach Grant McCasland watches from the sideline during the first half of an NCAA college basketball game against Louisiana Tech in the semifinal round of the Conference USA tournament in Frisco, Texas, Friday, March 11, 2022. (AP Photo/LM Otero) 
North Texas head coach Grant McCasland celebrates as he cuts down the net after the championship game against Western Kentucky in the NCAA Conference USA men’s basketball tournament Saturday, March 13, 2021, in Frisco, Texas. North Texas won 61-57 in overtime. (AP Photo/Tony Gutierrez) 
North Texas head coach Grant McCasland, center, celebrates with players after a win over Wisconsin in an NCAA college basketball game in the semifinals of the NIT, Tuesday, March 28, 2023, in Las Vegas. (AP Photo/John Locher) 
North Texas head coach Grant McCasland directs his team against UAB during the first half of a Conference USA men’s semifinal NCAA college basketball game in Frisco, Texas, Friday, March 10, 2023. (AP Photo/Michael Ainsworth) 
North Texas head coach Grant McCasland motions to his players during the second half of an NCAA college basketball game against Wisconsin in the semifinals of the NIT, Tuesday, March 28, 2023, in Las Vegas. (AP Photo/John Locher) 
Nexstar
Texas Tech’s buyout portion of the contract , if they were to fire McCasland for performance, would require the university to pay McCasland 70 percent of the remaining value of his contract. The amount would be offset by any future subsequent earnings with a future employer during the terms of his Texas Tech contract.
If McCasland were to leave before completing his contract, he would owe 40 percent of the remaining value of the deal.
