Rick Barnes Net Worth, Salary and Contract

Born on July 17, 1954, Rick Barnes is the head coach of the Tennessee Volunteers in the Southeastern Conference (SEC) for men's collegiate basketball. During his 17 seasons as head coach of the Texas Longhorns, which spanned from 1998 to 2015, Barnes led the team to 16 NCAA Division I men's basketball tournaments, including 14 straight from 1999 to 2012 and a Final Four appearance in 2003 under T. J. Ford.

Barnes has also coached at George Mason University, Providence College, and Clemson University. In the NCAA tournament, he had a 25–26 (.490) career record (including a 19–16 record while attending Texas).

Barnes has won numerous coaching awards, including Naismith Coach of the Year (2019), Henry Iba Award (2019), Coach Wooden "Keys to Life" Award (2018), CAA Coach of the Year (1988), 4× Big 12 Coach of the Year (1999, 2003, 2008, 2014), SEC Coach of the Year (2018), and John R. Wooden Legends of Coaching Award (2009).

Rick Barnes’s Net Worth

Rick Barnes’s estimated net worth is $16 million as of 2024. His successful coaching career, which has lasted more than four decades at universities like George Mason, Providence, Clemson, Texas, and now Tennessee, has contributed to this substantial figure.

Rick Barnes’s Career Earnings

Unfortunately, there is no information available about the career earnings of Rick Barnes.

Rick Barnes’s Salary

Rick Barnes signed a contract with Tennessee in 2015; following many renewals and salary increases, he is currently paid $5.45 million and will be paid $5.75 million for his last two seasons. He is Tennessee's highest-paid state employee. His contract has been extended three times in the last three years, and his current contract is valid through the 2027–2028 season. It was signed in late 2023.

In April 2015, Barnes agreed to become Tennessee's head coach on a $13.5 million, six-year contract. At the beginning of the 2017–18 season, he was ranked No. 35 nationally among college basketball coaches, and his initial contract paid him $2.25 million a year.

Barnes was one of the Tennessee coaches who willingly took a pay cut during the COVID-19 pandemic in late 2020, lasting for eight months. His six-year, $21 million contract extension from 2018 paid an average income of $3.5 million a year.

The contract he signed in April 2019 increased his annual salary by $250,000. In July 2021, Barnes was granted a two-year extension till the 2025–2026 season. The last two years of the contract came with a $100,000 annual rise as part of that extension.

In March 2022, Barnes was granted a one-year contract extension that included a $100,000 salary increase in the contract's final year, which was supposed to pay him $6 million. For the remaining five seasons left on that contract, it was worth an average salary of $5.77 million annually.

Rick Barnes’s Contract

In accordance with Barnes’s most recent contract extension, his base pay will be $5.45 million, with $5.75 million for his last two seasons; this contract runs through 2027-28. He has incentives in his contract for a variety of on-court accomplishments. As a matter of fact, his contract has a strong incentive to win March Madness:

• 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

Additionally, conference titles, coaching honors, and Tennessee's ranking in the AP Poll can earn Barnes extra bonuses:

• 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

Additionally, he is awarded academic bonuses: $100,000 is given for an Academic Progress Rate (APR) of 980 or higher, and $50,000 is given for an APR of 960 to 979.

Tennessee is obviously dedicated to its coach for the foreseeable future, given that Barnes' buyout cost an incredible $23.85 million. The university and Barnes will continue to collaborate as a result of this significant buyout, ensuring the stability of the basketball program.

Rick Barnes’s Contract Breakdown

There is no information on the signing bonus; the cap hit is flexible as the incentives are involved and will depend on the coach and his team’s performance; there is no information on the dead cap.

Rick Barnes’s Contract History

Over the years, Rick Barnes has developed an incredible coaching career. He began his career in 1977 as an assistant at North State Academy and worked his way up to assistant positions at Davidson, George Mason, Alabama, and Ohio State. Barnes took over as head coach for George Mason in 1987.

Barnes then had coaching positions at Texas, Clemson, and Providence. Especially notable was his time in Texas from 1998 to 2015. Barnes has led Tennessee since 2015, and from the looks of it, he will be there for a long time.