Niko Medved salary: How much will the Minnesota HC earn with Gophers?

After leading Colorado State for the last six years, Niko Medved is moving to the Minnesota Golden Gophers. His move comes after the Rams were eliminated in the second round of the NCAA Tournament by Maryland on Sunday.

It is a homecoming for Medved, a Minneapolis native who graduated from the University of Minnesota. He also spent a year with the basketball program as an assistant coach.

With that, let's look at how much the Golden Gophers' new head coach will make.

How much is Minnesota paying Niko Medved?

The final monetary details of Niko Medved's new deal are yet to be announced. However, as the memorandum of understanding announced on Tuesday, the coach will bag $3 million per year.

His annual base salary is $400,000 and he will receive $2.6 million in supplemental pay. These generally include media and public appearances, fundraisers, booster events, sponsorships and other responsibilities around a program. This part of his contract will be raised by $100,000 after every season.

Minnesota's compensation highlights the program's efforts to turn around its basketball team. The Golden Gophers had a 56-71 run under the lowest-paid coach in the Big Ten, Ben Johnson, in recent years. With that, the school has bumped its previous head coaching budget by 50% for Niko Medved.

The new contract is also a significant change for Medved as he was earning $1.7 million per year with Colorado State. The involved parties are yet to make the deal official as it is waiting an approval by the Board of Regents.

Medved is coming off a great run with the Rams. He led the program to 10 straight wins to end the regular season and conference games. He led them to the Mountain West championship, solidifying a bid to the NCAA Tournament.

Making another trip to March Madness next season will be Niko Medved's biggest challenge with Minnesota. The Golden Gophers finished 12th in the Big Ten with a 15-17 record this season. Their last national tourney stint came in 2019 under Richard Pitino.