Brad Underwood contract buyout: What Illinois basketball coach owes if he leaves for another team

Brad Underwood coached Illinois basketball to the NCAA Elite Eight this season.

The coach’s sustained success at the Big Ten Conference program means his name has surfaced in media reports as a possible replacement at Kentucky following coach John Calipari’s reported departure to Arkansas.

Underwood just completed his seventh and most successful season at Illinois. The 60-year-old led the Illini to the Big Ten Conference tournament championship and a trip to the NCAA Elite Eight. His Fighting Illini teams are 117-49 over the last five seasons, including a 69-31 record in the Big Ten in that span.

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Underwood was hired by Illinois in March 2017 after one season at Oklahoma State. He originally signed a six-year contract — but earned one-year extensions to that contract in 2020, 2021 and 2022. Underwood’s success this season helped add to the deal, earning him $160,000 in bonuses and triggering a one-year extension. The coach’s contract now runs through April 30, 2030, and includes a buyout.

Here’s everything to know about Underwood’s contract, including his buyout:

At $4.7 million this season, Underwood’s compensation is eighth among college basketball’s highest-paid coaches at public schools, according to a USA TODAY database. In the Big Ten, he trails only Michigan State’s Tom Izzo ($6.2 million). Kansas coach Bill Self ($9.6 million) tops the list.

Illinois’ appearance in the just concluded NCAA Tournament resulted in his contract being automatically extended for one year, so if Underwood were to leave Illinois for a job at a school outside the Big Ten, he would owe Illinois about $15.3 million. If Underwood were to take a job at a Big Ten school, he would owe double what he would owe if he left for a non-Big Ten school.

If Illinois were to fire Underwood without cause, the school would owe him about $30.6 million, subject to Underwood having a duty to find another job and Illinois being entitled to offset its payment to Underwood based on his income from the new position. At present, Illinois’ buyout payments to Underwood would be made in monthly installments through the end of the scheduled contract term, which is now April 30, 2030.

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• Career record: 251-115 (11 seasons)
• Stephen F. Austin (3 seasons, 2013-16): 89-14, 53-1 Southland
• Oklahoma State (1 season, 2016-17): 20-13, 9-9 Big 12
• Illinois (7 seasons, 2017-present): 142-88, 80-58 Big Ten