The Rutgers University board of governors voted at a special meeting Friday in New Brunswick to add two years to the contract of men’s basketball coach Stephen Pikiell, extending it to March 31, 2026.
No one discussed the contract during the special meeting. This item was the only matter of business and the meeting lasted for less than two minutes.
According to Rutgers University, Pikiell’s contract stipulates a guaranteed compensation of $20 million, plus performance and retention bonuses from 2019-2020 through 2025-2026. Pikiell became coach on March 22, 2016, with an initial contract that ran through 2020-21. He previously agreed to an extension in January 2018 that secured his services through 2023-24.
The contract states that Pikiell will be paid a retention bonus payable on July 1, 2025, if he stays employed by Rutgers as of that date and set a $5 million liquidated damages payment to Rutgers if he terminates the contract in the next contract year.
The 52-year-old Pikiell entered Tuesday evening’s Senior Night game versus No. 9-ranked Maryland with the Scarlet Knights leading the nation in home victories with 17. Rutgers has sold out a record 10 games at the RAC, including the final nine contests of the regular season.
Rutgers (18-10, 9-9) was ranked for consecutive weeks in both the Associated Press and Coaches Polls in January after last being ranked in the final poll of the 1978-79 season. The Scarlet Knights’ 18 victories are their most during a regular season in 18 years, since also posting 18 wins in 2001-02.
In September, Rutgers Athletics celebrated the grand opening of the RWJBarnabas Health Athletic Performance Center. The 307,000-square-foot sports facility and parking deck provide state-of-the-art practice facilities, training areas, locker room, film room, NBA scout observation deck and office space for the men’s basketball program, in addition to shared support and public elements. The Gary and Barbara Rodkin Academic Success Center is scheduled to welcome tenants in December.