Rick Barnes Net Worth, Salary and Contract

Born on July 17, 1954, Rick Barnes leads the Tennessee Volunteers in men's collegiate basketball within the SEC. He steered the Texas Longhorns for 17 seasons (1998-2015), securing 16 NCAA tournament appearances, including a Final Four berth in 2003. Barnes's coaching journey includes roles at George Mason, Providence, and Clemson, reflecting his diverse career. With a 25–26 (.490) NCAA tournament record, notably 19–16 at Texas, Barnes has earned accolades such as the Naismith Coach of the Year (2019), the Henry Iba Award (2019), and four Big 12 Coach of the Year titles. Beyond wins, he's been honored with the Coach Wooden "Keys to Life" Award (2018) and the John R. Wooden Legends of Coaching Award (2009).

Rick Barnes’s Net Worth

As of 2024, Rick Barnes's approximate net worth stands at $16 million. His successful coaching career, which has endured for over four decades at renowned institutions like George Mason, Providence, Clemson, Texas, and Tennessee, has notably enhanced his financial stability.

Rick Barnes's Career Earnings

Regrettably, there is no available information regarding the career earnings of Rick Barnes.

Rick Barnes’s Salary

Rick Barnes signed a contract with Tennessee in 2015 and has since undergone multiple renewals and salary enhancements. He commands a salary of $5.45 million, which will escalate to $5.75 million for his final two seasons. As Tennessee's highest-paid state employee, Barnes's contract has undergone three extensions in the last three years, extending through the 2027–2028 season, with the latest signing in late 2023.

In April 2015, Barnes accepted the head coaching position at Tennessee under a six-year contract valued at $13.5 million. Initially ranked No. 35 nationally among college basketball coaches during the 2017–18 season, his initial contract awarded him $2.25 million annually.

During the COVID-19 pandemic in late 2020, Barnes voluntarily accepted a pay reduction lasting eight months. His 2018 extension, a six-year, $21 million deal, averaged $3.5 million per annum.

Subsequent adjustments to Barnes's contract saw his annual salary increase by $250,000 in April 2019, with a two-year extension granted in July 2021, extending his tenure through the 2025–2026 season. This extension also included a $100,000 annual salary increment for the final two years.

In March 2022, Barnes received a one-year contract extension featuring a $100,000 salary bump in the final year, intended to reach $6 million. Over the contract's remaining five seasons, Barnes is set to earn an average annual salary of $5.77 million.

Rick Barnes’s Contract

Rick Barnes's latest contract extension solidifies his base pay at $5.45 million, escalating to $5.75 million for his final two seasons, extending through 2027-28. Notably, Barnes's contract incorporates a range of incentives geared towards on-court achievements, with a particularly strong incentive structure for success in March Madness.

Outlined in his contract are substantial bonuses for various accomplishments:

• National title win: $1.5 million

• National title game appearance: $1.2 million

• Final Four appearance: $1 million

• Elite Eight appearance: $800,000

• Sweet Sixteen appearance: $600,000

• Second round appearance: $400,000

• NCAA Tournament bid: $200,000

Moreover, Barnes stands to gain additional bonuses for conference titles, coaching honors, and Tennessee's ranking in the AP Poll:

• SEC regular season title: $400,000

• SEC Tournament title: $200,000

• National Coach of the Year (Naismith, AP, or USBWA): $250,000

• AP SEC Coach of the Year: $150,000

• Top five AP Poll finish: $400,000 bonus

• Top 10 AP Poll finish: $200,000 bonus

• Top 25 AP Poll finish: $100,000 bonus

Academic bonuses are also included in the contract, with $100,000 awarded for an Academic Progress Rate (APR) of 980 or higher, and $50,000 for an APR of 960 to 979.

Tennessee's commitment to Barnes is evident through the imposing buyout clause of $23.85 million. This substantial figure underscores the university's dedication to maintaining stability within its basketball program, ensuring continued collaboration with Barnes for the foreseeable future.

Rick Barnes’s Contract Breakdown

The provided contract breakdown needs details on signing bonuses and dead cap figures. The cap hit is subject to variability due to the inclusion of incentives, contingent upon the coach's and team's performance. Therefore, specific data regarding signing bonuses and dead caps remains undisclosed. The cap hit remains flexible, influenced by performance-based incentives, making it dependent on the coach's and team's achievements throughout the contract period.

Rick Barnes’s Contract History

Throughout his illustrious coaching career, Rick Barnes has navigated a remarkable journey. His coaching odyssey commenced in 1977 as an assistant at North State Academy, gradually ascending through assistant roles at Davidson, George Mason, Alabama, and Ohio State. Notably, Barnes assumed the helm as head coach for George Mason in 1987.

Following his tenure at George Mason, Barnes held coaching positions at Texas, Clemson, and Providence. His tenure at Texas, spanning from 1998 to 2015, remains particularly noteworthy. Since 2015, Barnes has been at the helm of Tennessee, demonstrating a commitment that suggests his tenure will endure for the foreseeable future.