As we reported on in July, Matt Painter has signed a contract extension to remain as Purdue’s head coach through the 2021-22 season. The extension was agreed upon last month, but it was noted that it wouldn’t be finalized until August when Purdue’s Board of Trustees were set to meet.
The move isn’t a huge surprise as Painter has found a way to bounce back from a few down seasons and has had Purdue firing on all cylinders the past two years. In 2015-16 the Boilermakers would go on to win 26 games and play in the Big Ten Tournament Title game against Michigan State, just coming up short.
Only two coaches have won more games at Purdue, one of which is Painter’s former coach (and Purdue’s prior head coach) Gene Keady. Keady spent 25 seasons with Purdue, winning a school-high 512 games and making 17 NCAA Tournament appearances. So far in 11 seasons Painter has compiled a 238-134 record and eight NCAA Tournament appearances, with a .640 winning percentage just behind Keady’s .655 mark. The veteran coach is also 18th all-time on the Big Ten wins list even though he’s only 45 years old.
“Purdue is a special place with special people, and I’m humbled to be a part of it. There is no place I’d rather be, and I am excited to get the 2016-17 season started,” said Painter in a release from the university.
Painter’s extension will see the coach receiving $3 million in 2019-20, followed a slim increase each of the following years up to $3.1 and $3.2 million respectively. As for his bonuses that he can receive, it is being reported that those will remain the same as they currently are. His contract will see a modest increase in salary starting in 2019, with Painter currently set to earn $2,425,000 for 2016-17. Painter’s buyout will also remain the same, with Purdue on the hook for the full remaining value of the contract.
As we previously mentioned earlier in the summer, this move likely has quite a bit to do with stability and allowing Purdue to go all in for the upcoming recruiting classes in 2017 and 2018. It also makes sense to create a more stable environment with a new Athletic Director set to take over next month, especially since new AD Mike Bobinski could have his hands full this winter with trying to find a new head coach for the football team if things don’t turn around.
Now that Purdue and Painter have their extension taken care of, the coach can focus on the promising 2017 and 2018 recruiting classes as Purdue tries to build off of their recent success.