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Rick Barnes receives contract extension with UT basketball

Barnes led the Volunteers to the 2018 regular-season SEC Championship in just his third year at the helm of the program.
Credit: Jim Brown
Jan 9, 2018; Nashville, TN, USA; Tennessee Volunteers head coach Rick Barnes during the first half against the Vanderbilt Commodores at Memorial Gymnasium. Credit: Jim Brown-USA TODAY Sports

Reigning SEC Men's Basketball Coach of the Year Rick Barnes has received his first contract extension through the 2023-24 season.

The extension is worth $21 million over 6 years. The University of Tennessee will pay Barnes $3.25 million for the 2018-2019 season, and will increase the amount by $100,000 annually throughout the 2023-2024 season. In the final year of his contract, Barnes will make $3.75 million.

Barnes led the Volunteers to the 2018 regular-season SEC Championship in just his third year at the helm of the program. In 2018, Tennessee also appeared in the SEC Tournament title game, and captured a No. 3 seed in the NCAA Tournament. The Vols' 26-9 overall record is the fourth-most wins in program history.

During his tenure, Barnes has already earned 2018 SEC Coach of the Year (AP and Coaches), 2018 Athletes in Action Coach Wooden "Keys to Life" Award, 2018 NABC All-District 21 Coach, 2018 USBWA District IV Coach of the Year, and 2018 TSWA Coach of the Year.

The Vols are poised to have another successful year entering the 2018-19 season. Tennessee is listed in the top five nationally in several preseason polls.