GAINESVILLE -- Billy Donovan isn’t going anywhere.
Florida’s veteran coach signed a three-year contract extension through 2018-19, bumping his annual salary to $3.68 million over the next five years.
Florida will pay Donovan close to $4 million this season after he received a $250,000 longevity bonus earlier in March, according to contract details released Tuesday.
During is 18 seasons in Gainesville, Florida’s coached has revolutionized Gators basketball, leading UF to two national championships, three Final Fours and 14 NCAA Tournament appearances.
The Gators -- who punched their fourth-consecutive Sweet 16 ticket last Saturday and will face fourth-seeded UCLA in Memphis, Tenn. on Thursday (9:45 p.m., CBS) -- own the nation’s longest active winning streak at 28 straight.
Under terms of his new deal, Donovan no longer has a non-compete clause in his contract but he still must receive “express written consent” from athletic director Jeremy Foley before speaking with either an NBA franchise or another collegiate institution.
Donovan’s base salary will remain at $220,000 but his activities agreement increased by roughly $100,000.
Donovan’s (highly-incentivized) postseason benefits did not change with the new contract.
As with the old deal, Donovan earns $37,000 for making the NCAA Tournament with triggered increases for reaching the Sweet 16 and Final Four. Donovan would earn a $150,000 bonus for winning the NCAA Championship.
Donovan has already racked up bonus cash this postseason, earning $250,000 for reaching the Sweet 16, winning the SEC, winning AP coach of the year and finishing in the Associate Press Top 10.
While the timing seems a bit reactive to last week's news of Donovan's "NBA intrigue," via multiple reports, Donovan agreed the contract during the summer but it wasn’t finalized until last month.
Last week, a trip to Orlando spurred memories of when Donovan spurned the Magic in 2007. Florida's coach agreed on a contract, only to change his mind and later walk away.
While Donovan wouldn’t commit to staying with the Gators forever, he was adamant there's no place he rather be right now.
“When you say a lifer, that means to me I'm never, every going to go anywhere and be there,” Donovan said.
“Who knows? They may get sick of me at Florida and want me to move on. But I don't like coming out making bold predictions or statements. I would say right now I'm extremely happy with my life right now at the University of Florida.”
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