It’s official: Crean inks 10-year deal with Indiana

  • 08/19/2008 12:03 pm in

crean2323.jpgIU just issued a press release on Tom Crean officially signing a 10-year deal with the university and we’ve uploaded a copy of the contract for your reading pleasure.

Bloomington, Ind — Indiana University has officially signed Tom Crean to lead the Hoosiers men’s basketball program to a 10-year contract that will pay him $600,000 per year in base salary and an additional $15.72 million in outside marketing and promotional income during the life of the deal. The agreement is retroactive to April 2, 2008 and expires on June 30, 2018.

“I left a very special situation at Marquette when Indiana offered me this opportunity,” said Crean. “I wanted to make sure that if I left, I would be going to a place that would be a destination for my family and allow me to build a program for the long haul with the same security.”

Crean also could earn an additional $560,000 per year in incentives should the Hoosiers win the Big Ten and NCAA Championships in the same season.

“I appreciate the confidence that President McRobbie and the University have shown in me by offering the two additional years to the agreement,” said Crean. “It is a great responsibility to lead this program and I look forward to the challenge of bringing the program the respect it deserves. The process of restoring this great program is going to take a lot of time, more than probably any of us anticipated.”

When Crean was hired in April, it was announced he had agreed to an eight-year relationship in a letter of understanding. Two years were added to the deal, not because of the NCAA’s Failure to Monitor allegation, but because of administrative changes on campus.

Should Crean decide to leave IU he would owe the University $3 million after years one thru three of the agreement, $2 million after years four thru five, and $1 million for years six thru 10.

“It is very easy to sell the tradition that is Indiana basketball knowing that we are committed to IU for a long time and that the University believes in what we are trying to accomplish,” added Crean. “I’m especially grateful for the way Rick Greenspan, former players, supporters and the entire Hoosier Nation have made my family feel welcome and helped us during this transition.”

Filed to:

  • hoosier07

    we all knew this was coming, it was just a matter of when.

    Now, anyone got an update on when the NCAA is going to reply with their findings to IU?!

  • B_MD

    In checking other sites/outlets I'm seeing a ton of negative comments on this announcement, mainly about the money.

    I'm curious as to what people here think? I'm guessing it won't be as negative of a reaction since more people here understand the landscape of college basketball.

  • I can't speak for the rest of the fan base, but I'm thrilled about the commitment to Crean and the fact that Indiana has a coach that is going to build the program the right way. Given the circumstances surrounding the program and how Crean was compensated at Marquette, IU had to open the checkbook to land him.

    As much as I hate to say this, a lot of fans had an unrealistic view of the whole coaching search. The program has taken a hit the last decade and it was a tough sell to some candidates. The end result was making the situation lucrative and attractive enough for Crean to leave a program at Marquette where he was beloved. If Crean does the job I believe he can do, the money will be well spent.

  • B_MD

    I agree with everything you've said. We live in a country that supports a little thing called capitalism…Crean got what the market dictated he should get based on his experience and success and Indiana's current situation.

  • fergrad

    I'm all for the contract. Its a lot of money, but its not too far off what the top schools pay their coaches now. If we want to succeed, we have to pay $ for a good coach who is committed to getting us there. I can only hope that Crean turns out to be that guy. As for the length, I think its fine. It gives Crean security to let recruits know that he will stay. With the players coming in through the next 2 years, I really think that IU will have a shot at winning the Big Ten by 2010.

  • MPmike

    This contract gives Ton Crean even more pressure to win big and win now. I believe that IU's administration believes that IU will suffer these next two seasons, so this will let Crean know that IU will support him through the tough years and this will help relieve the doubts of future recruits coming to IU.

  • JHoosiers77

    Let's hope the IU administration continues to “get It” and pays for an AD at market rate like they did for Coach C. Anybody that has a problem with dollar amount of the contract lives in a small, narrow world and has no understanding of what a top program is required to do to stay there. Let's hope the NCAA also sees this as commitment to the future of the program and it lessens the impact of any penalties.

  • B_MD

    Seriously check out the comments on the Indy Star article. Hardly 1 single positive comments.

  • hoosier07

    my best friend works at the worldwide leader. he goes your school is nuts for giving him the deal that they did … i told him live the last 2 years as a diehard hoosiers basketball fan and he would agree with me … he then proceeded to shut up.

    i am 100% behind this move, and bigA made some very valid points. TC definitely has what it takes to turn this program around…. and i dont know how many of the other potential candidates would have been able to achieve what he already has in just a few short months …

  • tberry

    IU seems to be perfectly willing to pay for a proven Basketball Coach but still will not put a package together to lure a proven Football Coach. Give just a portion to a really good, proven football coach and it would make a lot more sense.

    It also seems strange that IU would make this deal without giving any thought to what the new AD will want or think right. Many were really upset because Dakich used his power when a new BB coach was in the offing. Why give away the house, good or bad, and leave the new AD out of the loop???

  • fergrad

    I don't even read Indy star comments anymore. They are complete nonsense and are typically written by people who thought for a full 5 seconds before they wrote their message. They're even less thought out than ESPN comments, and that's saying a lot.

  • MikeinNC

    I think this is the cost of our past 10 years of mistakes in managing the program….the bill finally came due to make things right, and it is a whopper…but they made the right move. When they recruited Crean, there's no way anyone understood how bad it would be. He has performed admirably thus far in building some momentum, and the administration could not risk him getting scared off and bolting as the picture got worse and worse over the past few months. Ultimately, it was a necessary move, and he appears to be the right guy. People the whine about the cost need to understand it should be amortized back over the past 10 years when the situation was created that now requires this cost.

  • MikeinNC

    The Star is mainly populated by trolls who have been frustrated for years by the cockiness of the IU fanbase…they now see the next two years as their last chances to take pot shots at the program before it gets back to a maddeningly (for them anyway) high level of excellence…last year during the height of Sampson mania I went out a few times on a Sunday to read the comments after an IU game and a Purdue game…the IU thread would have 60-80 comments, 80% of which were from anti-IU trolls; the Purdue thread would have 20 comments 25% of which would be trolls…it was fairly consistent.

  • MikeinNC

    I think this is the cost of our past 10 years of mistakes in managing the program….the bill finally came due to make things right, and it is a whopper…but they made the right move. When they recruited Crean, there's no way anyone understood how bad it would be. He has performed admirably thus far in building some momentum, and the administration could not risk him getting scared off and bolting as the picture got worse and worse over the past few months. Ultimately, it was a necessary move, and he appears to be the right guy. People the whine about the cost need to understand it should be amortized back over the past 10 years when the situation was created that now requires this cost.

  • MikeinNC

    The Star is mainly populated by trolls who have been frustrated for years by the cockiness of the IU fanbase…they now see the next two years as their last chances to take pot shots at the program before it gets back to a maddeningly (for them anyway) high level of excellence…last year during the height of Sampson mania I went out a few times on a Sunday to read the comments after an IU game and a Purdue game…the IU thread would have 60-80 comments, 80% of which were from anti-IU trolls; the Purdue thread would have 20 comments 25% of which would be trolls…it was fairly consistent.