Tom Izzo signs new 5-year contract with Michigan State University

EAST LANSING, Mich. (WILX) - Michigan State University head basketball coach Tom Izzo has agreed to terms on a new contract with the school.

According to the school, Izzo’s five-year rollover contract includes non-performance related compensation of $5.92 million per year, including a $2.43 million base (up from an initial $430K base on his 2018 contract), $3.09 million in supplemental compensation, and $400K from footwear and apparel provider Nike.

“We have worked hard to maintain championship standards and I’m as energized to coach now as I was when I started as the head coach in 1995,” Izzo said. “This is an exciting time for Michigan State and there’s no better place to be in college athletics, with the support we have from the University, our students, our community, and the tremendous Spartan alumni. I love Michigan State and I am proud and excited to continue the hard work to bring another national championship to East Lansing.”

Total compensation and additional fringe benefits add up to a yearly compensation package with a value of about $6.2 million per year.

The school said Izzo has compiled more overall wins at a Big Ten school than any coach in conference history.

The contract will require formal approval by the MSU Board of Trustees at their next meeting on Sept. 9.

Read next:

• Invasive spotted lanternfly detected in Michigan for first time
• New roller coaster at Cedar Point to open in 2023
• Jury can’t reach verdict in engineers’ Flint water trial
• Michigan State Police arrest Lansing woman after gun found in traffic stop

Copyright 2022 WILX. All rights reserved.

Subscribe to our News 10 newsletter and receive the latest local news and weather straight to your email every morning.