Details Of Darian DeVries Men's Basketball Contract Released By Indiana Athletics

Indiana University released new basketball coach Darian DeVries’ contract details on Thursday.

The memorandum of understanding, or binding term sheet, is a common method used before a formal contract is signed and a background check is conducted.

DeVries and Indiana Director of Athletics Scott Dolson signed the binding term sheet, and DeVries’ official first day was March 19.

The contract is a six-year deal that binds DeVries to Indiana until 2031. His annual base salary is $550,000, but with outside marketing and promotional income – a standard clause built into most coaching contracts – his compensation skyrockets.

Here is the ascending outside marketing and promotional pay schedule for DeVries, which is added to his base salary annually:

• March 19, 2025 – March 31, 2026: $3,700,000

• April 1, 2026 – March 31, 2027: $3,800,000

• April 1, 2027 – March 31, 2028: $3,900,000

• April 1, 2028 – March 31, 2029: $4,000,000

• April 1, 2029 – March 31, 2030: $4,100,000

• April 1, 2030 – March 31, 2031: $4,200,000

Outside marketing and promotional income is derived from public appearances, communications, media interviews, full cooperation in broadcast requirements and providing endorsements, compliances and cooperation with sponsorship, and product and supply agreements with the Indiana athletic department.

Indiana also agreed to pay DeVries’ buyout obligation to West Virginia in a manner that is tax neutral for DeVries. According to DeVries’ West Virginia contract, he was to owe 37.5% of his remaining compensation on his contract. That would be a minimum of $4.6 million, but to offset it for tax purposes and any other obligations that might still exist within the contract, it could rise as high as $6 million.

There are also incentives built into DeVries’ contract:

• $125,000 if Indiana wins the Big Ten regular season championship

• $50,000 if Indiana wins the Big Ten Tournament

• $25,000 if Indiana makes the NCAA Tournament

• $25,000 if Indiana advances to the round of 32 in the NCAA Tournament

• $35,000 if Indiana advances to the Sweet 16 of the NCAA Tournament

• $50,000 if Indiana advances to the Elite Eight of the NCAA Tournament

• $125,000 if Indiana advances to the Final Four of the NCAA Tournament

• $250,000 if Indiana wins the NCAA Tournament

• $50,000 if DeVries wins Big Ten Coach of the Year

• $50,000 if DeVries wins the Naismith College Coach of the Year, the Associated Press Coach of the Year or USA Today Coach of the Year. The maximum is $50,000 in any one season.

DeVries also received a $50,000 one-time signing bonus to assist with relocation as well as $25,000 for moving expenses.

DeVries also gets an annual allowance of $10,000 for adidas products, a courtesy car, season tickets to Indiana athletics competitions, unlimited use of the Pfau Golf Course and the license to operate a basketball camp.

If DeVries were to resign or is terminated for cause, Indiana would not owe DeVries any compensation after that date.

If DeVries would be terminated without cause, Indiana would pay 80% of the remaining base salary and supplemental income.

If DeVries were to leave Indiana, his buyout schedule is as follows:

• Before March 15, 2026: $10,000,000

• Before March 15, 2027: $8,000,000

• Before March 15, 2028: $6,000,000

• Before March 15, 2029: $3,000,000

• Before March 15, 2030: $1,000,000

• After March 15, 2031: $0

If DeVries was terminated without cause, any compensation made by DeVries would be offset and reduced dollar-for-dollar and compensation would have to be reported to Indiana in doing so.