BOISE – Boise State Men's Basketball head coach Leon Rice is set to receive a $43,500 raise in 2014. The salary increase comes after Rice negotiated new contract terms with BSU, the university announced Wednesday.
The means Rice -- who led the Broncos to their first NCAA tournament appearance since 2008 earlier this month -- stands to make a hefty $482,110 in 2014. There's a 3% increase built into his contract every year after that as well.
In case you were wondering, that's still $1.6 million less than what Bronco football head coach Chris Petersen (the state's highest paid employee) stands to earn the same year.
The new contract terms also include a two year extension of Rice's contract, and are subject to approval by the Idaho State Board of Education.
BSU Director of Athletics Mark Coyle announced Rice's contract renewal on Wednesday.
“We are very excited about the direction of the Boise State men’s basketball program,” Coyle stated. “Leon and his staff have done an outstanding job the past three years, and we want to make sure we are continuing to move forward.”
According to Coyle, Rice’s contract is will now be extended to March 31, 2018, and will be automatically extended by one additional year for each season in which the Broncos either make the NCAA Tournament or win at least 20 games during the season - including games played in the Mountain West Tournament, the NIT or the NCAA Tournament.
The buyout for Rice’s contract has also been increased to $175,000.
“I am excited about the continued growth of this program, and I am humbled by the positive outpouring of support of the Boise State administration and Bronco Nation,” Rice said.
Rice, hired March 26, 2010, led the Broncos to the NCAA Tournament in 2012-13, just his third season leading the program. The NCAA Tournament bid was just the sixth in school history, the second in the last 19 years and the first at-large selection for the Broncos all-time.