Late last week, the Michigan State Spartans hall of fame head coach Tom Izzo signed an extension that essentially guarantees him a lifetime contract. Izzo signed a five-year rollover contract which means at the end of each season, his contract is extended another year. The new contract essentially equates to a lifetime deal as a result.
Spartan for Life.— Michigan State Athletics (@MSU_Athletics) August 11, 2022
Coach Tom Izzo signs a new contract with Michigan State Basketball. pic.twitter.com/nQ8wfFX51d
The 67 year old head coach’s new contract includes non-performance-related compensation of $5.92 million per year, including a $2.43 million base (up from an initial $430,000 base on his 2018 contract). His total compensation, including additional benefits, adds up to a value of approximately $6.2 million per year.
Izzo joined the Spartan staff in 1983 as an assistant coach and has led the program as head coach since 1995. In 27 seasons at the helm, he holds a 666-267 record while becoming the all-time winningest basketball coach in Big Ten history with his 663rd victory in a win over Maryland on March 7, surpassing former Indiana head coach Bobby Knight.
Izzo has also led the Spartans to 24 NCAA Tournament appearances (second longest active streak in the nation and tied for third longest all-time), eight Final Fours, and one national championship. The program has also captured 10 regular-season Big Ten championships and six Big Ten Tournament titles during Izzo’s time as head coach.