Tom Izzo was already gettin' money, gettin' paid by Michigan State, but the University wanted to show their gratitude to the man (the myth, the legend!) who has taken the men's basketball Spartans to six of the last 12 Final Fours, passed up on an opportunity to coach in the NBA last summer and vowed to be a Sparty4lyfe. Athletic Director Mark Hollis decided the best way was to pay this man his money:â†µ
Izzo’s newly amended contract gives him a $500,000 raise — increasing his annual compensation to $3.49 million — and use of a private plane for up to 25 hours each year for personal use.â†µ
"Tom Izzo provides so much value to the state of Michigan and to Michigan State that coming up with his true value is difficult," athletic director Mark Hollis said today. "What we wanted to do was make sure he’s among the highest-paid coaches in the nation, because I would say he is the best coach in college basketball.â†µ
According to the Freep, only John Calipari, Mike Krzyzewski and Billy Donovan in college basketball receive more money annually. Remember, Tom Izzo did not ask for more money from MSU during the Cleveland Cavs discussions, but it was pretty much a foregone conclusion that he would receive a raise if he decided to stay with the Spartans, which, of course, happened. Izzo is under contract through 2017 and receives extra compensation if MSU returns to the Final Four, and the odds are looking pretty, pretty, pretty, pretty good.