How does Monmouth basketball coach's new contract compare to what other coaches are paid?
In the hours before Monday night’s season opening game at Michigan State, Monmouth announced head coach King Rice had signed a five-year contract extension through the 2028-29 season.
The extension was originally reported back in March, when a variety of performance metrics including academic success, overall record, performance in the postseason and improvement over time caused the extension to kick in after Monmouth’s win over Campbell in an opening round game at the Coastal Athletic Association Tournament.
Rice is in his 14th season as Monmouth's head coach, with a 207-209 career record, having come within a game of the reaching the NCAA Tournament three times, falling in the MAAC Tournament final to Iona in 2016 and 2019, and to Saint Peter’s in 2022.
When Rice signed a five-year extension in 2021, Monmouth was in the MAAC, moving to the CAA for the 2022-23 season. So how does his compensation comparison to other CAA coaches?
Monmouth is a private school and does not release contract information, but an examination of the school's 2023 tax form 990 shows Rice with a base salary of $545,648, with likely to be earned compensation of $67,746 bringing the total to $613,349.
More: Monmouth basketball falls to Michigan State, 81-57: Takeaways as young Hawks show promise
Who are the CAA's highest paid coaches?
At the top of the list is Charleston’s Chris Mack, the former head coach at Louisville and Xavier. Mack, in his first season at Charleston, got a five-year deal worth $1.1 million annually. That’s the same salary former coach Pat Kelsey had before taking the Louisville job. And Kelsey’s contract called for a $600,000 base salary plus $500,000 of private funds, in addition to performance bonuses.
Northeastern’s Bill Coen is the Huskies’ and the CAA’s all-time winningest coach, in his 19th season with the program. And public records show Coen as the league second highest-paid coach in 2023, with total compensation of $681,703.
After Rice, Delaware’s Martin Ingelsby’s total compensation in 2023 came to $601,008, including a base salary of $541,993. Delaware is in its final season in the CAA before moving to Conference USA.
Towson’s Pat Skerry signed a four-year extension in April 2023 that reportedly calls for a base salary of $510,000 this season, going up $10,000 each year through 2026-27.
Drexel’s Zach Spiker’s total compensation in 2023 was $505,631.
Hofstra’s Speedy Claxton, whose team has topped 20 wins in each of his first three seasons at the Pride’s helm, had a base salary of $468,513 in 2023.
CAA newcomer Brian Earl takes over at William & Mary, after the 1999 Ivy League Player of the Year at Princeton spent the last seven seasons as the head coach at Cornell. Earl reportedly signed a five-year deal worth $450,000 annually.
Stony Brook’s Geno Ford, whose team reached the CAA Tournament championship game last year before losing in overtime to Charleston, made $375,000 in 2023. Other CAA coaches include Elon’s Billy Taylor ($350,232), North Carolina A&T’s Monte Ross ($340,000) and Wilmington’s Takayo Siddle ($300,000).
Top college basketball earners
The CAA is a mid-major league, By contrast, the highest-paid coaches anywhere in college basketball last season were Kansas’ Bill Self at $9.63 million, Kentucky’s John Calipari, now at Arkansas, at $8.54 million, and Michigan State’s Tom Izzo at $6.2 million.
Locally, Rutgers head coach Steve Pikiell has a $3.35 million salary this season. Seton Hall’s Shaheen Holloway signed a six-year contract worth $2.4 million annually in 2022, after making $300,000 in his final season as the Saint Peter’s head coach.
This article originally appeared on Asbury Park Press: King Rice new contract at Monmouth basketball: comparing it to other deals
