Matt Painter contract extension: How much will Purdue HC make? Salary details, incentives and more

Matt Painter, the head coach for Purdue University's men's basketball team, has signed a big contract that will keep him in charge of the Boilermakers until 2029.

Lafayette-based reporter Dave Bangert posted on X (formerly Twitter), saying Painter will receive a base salary of $4.85 million for the 2024-25 season. In addition, he can earn up to $1.2 million through performance-based incentives.

"Purdue trustees extend contract for men's basketball coach Matt Painter through 2029, with base salary for 2024-25 of $4.85M, with performance-based incentives of $1.2M."

Based on the terms of his new contract, Painter’s base salary will see a progressive increase from $3.6 million in the previous season.

Painter has led Purdue as head coach since 2005. His tenure has been especially noteworthy in the last five seasons, during which the Boilermakers won three Big Ten regular-season titles. They also made an NCAA Final Four appearance in 2024.

Moreover, nine of the players he has coached went on from Purdue to play in the NBA. Throughout his 19 seasons with the Boilermakers, Coach Painter has managed 650 games and upheld an impressive winning percentage of .688.

Matt Painter has also won several awards, including the 2019 NABC Coach of the Year, and he was named Big Ten Coach of the Year five times.

Matt Painter’s salary and contract history

Originally from Fort Wayne, Indiana, Matt Painter began his coaching career immediately after graduating from Purdue in 1993. He joined Washington & Jefferson College in an assistant coaching role.

It was not until 2003 that Painter got his first head-coaching role at Southern Illinois. But after a year, he left the Salukis to join Purdue as an associate HC. In 2004, he replaced Gene Keady to become the new Boilermakers head coach. He agreed to a six-year contract.

His annual salary reached over $1 million in 2011. The following year, Painter doubled his income and began earning $2.3 million per annum. His earnings gradually increased over the years and hit $3 million a year in 2020.

Painter's last contract renewal was in 2018, which became effective on July 1, 2019. His contract turned into a five-year agreement with automatic one-year extensions through the 2023-24 season.

"It is an honor, and I am extremely happy and proud to be the head coach at my alma mater," Matt said. "Purdue is a special place, and the commitment to the basketball program is apparent. I am equally appreciative of the commitment to me, and I am committed to this program, our players, our fans and this great institution.

With the latest pay upgrade, Matt Painter entered the top 10 highest-paid men's college basketball coaches.