AMES, Iowa — New Iowa State men’s basketball coach T.J. Otzelberger will be paid $1 million per year with an additional $500,000 in supplemental benefits under terms of his five-year contract released Monday.
Otzelberger’s base pay is $300,000, and he receives $700,000 for public appearances, speaking engagements and media obligations. The supplemental benefits include university contributions to his retirement plan.
Otzelberger will receive a bonus if the Cyclones are among the top four seeds in the Big 12 Tournament, with the No. 1 seed earning him $250,000. He would earn $100,000 for winning the conference tournament, $50,000 for an at-large NCAA Tournament bid and $50,000 for each win in the tournament.
The university is providing a vehicle to Otzelberger and paying for his Ames Country Club membership.
Iowa State also agreed to pay $3.4 million to buy out his contract at UNLV, where he coached the past two years. Otzelberger was earning $1.2 million per year at UNLV.
Challenge matchups unveiled: Iowa will visit Virginia and Illinois will host Notre Dame in the first two games of the 23rd annual Big Ten/ACC Challenge.
The Hawkeyes and Fighting Illini both will play on Monday, Nov. 29, with the other 12 games between Big Ten and ACC men’s basketball teams taking place on Nov. 30 and Dec. 1.