FAYETTEVILLE — John Calipari will be introduced as the University of Arkansas men’s basketball coach tonight at 6 p.m. at Walton Arena after an official announcement of his hiring this morning during a UA Board of Trustees meeting.
The introduction event is open to the public, and attendees should enter the south entrance of Walton Arena, according to a UA news release. Doors open at 5 p.m.
The Board of Trustees meeting was held so members could formally approve Calipari’s contract, which they did unanimously in a voice vote.
Calipari, 65, has signed a five-year contract with a salary beginning at $7 million per season, according to the news release.
The contract runs through April 30, 2029, with a maximum of two automatic rollover years for NCAA Tournament appearances that would extend the contract to 2031. The contract includes a $1 million signing bonus and retention bonuses of $500,000 each year of the contract, along with one-time bonuses for making the NCAA Tournament, reaching the second round, Sweet 16, Final Four and winning a national championship.
Calipari is leaving Kentucky after 15 seasons in which he led the Wildcats to a 410-123 record with 12 NCAA Tournament appearances, including four Final Four appearances and the 2012 national championship. He was inducted into the Naismith Memorial Basketball Hall of Fame in 2015.
[READ MORE: A look back at Calipari’s extensive history vs. UA]
“It’s an exciting day for the University of Arkansas and the state of Arkansas as we welcome Coach John Calipari as our new men’s basketball coach," Razorbacks Athletic Director Hunter Yurachek told the board members via Zoom.
News of Arkansas being in serious talks with Calipari broke on Sunday, and his impending move from SEC rival Kentucky became a national sports story.
“I know when I walked the campus the past couple of days there’s been a buzz in the air,” said UA Chancellor Charles Robinson, who also joined the board meeting via Zoom. “I know there’s a lot of excitement out on the campus about this hire.”
Calipari is replacing Eric Musselman, who last Thursday resigned after five seasons at Arkansas to become Southern Cal’s coach.
“It was a weekend I’ll never forget and probably one our program will never forget either,” said Ted Dickey, a UA Board of Trustee member who assisted Yurachek in finding the Razorbacks’ new coach. “During the search process I learned two things.
“One is that in conversations with coaches across the country, they actually believe we have a top 10 program. I think most of us already believed that anyway.
“The second thing is that we really have an outstanding athletic director. Hunter is well respected, well connected and tireless. And he can survive on very little sleep.”
Board member Kevin Crass thanked UA lawyers David Curran, the general counsel, and Matt McCoy, associate general counsel, for their roles in negotiating Calipari’s contract.
Calipari is represented by Tom Mars, an Arkansas law school graduate.
“I had a conversation with [Mars] in which he said he’s dealt with a lot of lawyers in Power 5 conferences, and he can’t imagine lawyers better than those that represent the University of Arkansas,” Crass said. “Unfortunately, athletics has gotten enmeshed in legal issues and I think it’s a great comfort, to me at least as a board member who understands good lawyering — I don’t do it, but I can recognize it — that [the UA] has world-class legal representation.
“Normally I think these deals are done so quickly that you have a term sheet, and then over the course of time, disputes often arise between that term sheet and that final contract. And these lawyers worked extraordinarily hard over the weekend to get a complex document prepared and sent to us, and I think they should be thanked and recognized for that.”
Calipari is one of three coaches to lead three programs to Finals Fours along with Rick Pitino.
Before Calipari’s four Final Four appearances at Kentucky, he led Massachusetts and Memphis to Final Fours.
Pitino, now the coach at St. John’s, led Providence, Kentucky and Louisville to the Final Four.
“By all accounts, John Calipari is one of the premier coaches in college basketball,” Yurachek said in a news release. “A national championship coach, a four-time national coach of the year and one of the nation’s top recruiters, Coach Cal has consistently demonstrated his ability to attract outstanding talent and build championship teams within the Southeastern Conference and position his programs among the best in the nation.
“As I visited with Coach Calipari during this process, he acknowledged the tremendous opportunity we have at the University of Arkansas to attract and retain top players and compete for championships. He understands the deep passion of the Razorback Nation and has experienced the tremendous home court advantage of Bud Walton Arena.
“I have no doubt that under Coach Calipari’s leadership and with the collective support of all those who love the Hogs, Razorback Basketball will continue to maintain its national prominence within college basketball.”
Calipari has coached 58 NBA Draft picks, including 21 first-rounders. This season 28 of his former players have been on NBA rosters.
Calipari’s on-court record is 855-263.