Indiana University unveiled the contract details for its new basketball coach, Darian DeVries, on Thursday.
Before finalizing a formal contract and completing a background check, a binding term sheet—also known as a memorandum of understanding—is typically used.
Both DeVries and Indiana Athletic Director Scott Dolson signed this agreement, with DeVries officially beginning his role on March 19.
The six-year contract extends DeVries’ tenure at Indiana through 2031. While his base salary is set at $550,000 per year, additional earnings from marketing and promotional opportunities significantly increase his overall compensation.
Here is the structured breakdown of Darian DeVries’ contract details, including his outside marketing and promotional pay, incentives, and termination terms.
Outside Marketing and Promotional Pay
In addition to his base salary, DeVries will receive escalating annual payments for marketing and promotional activities, which include public appearances, media interviews, sponsorship obligations, and cooperation with Indiana’s athletic department agreements. His pay schedule is as follows:
- 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
Buyout Agreement
Indiana has agreed to cover DeVries’ buyout from West Virginia in a tax-neutral manner. Based on his contract with West Virginia, he owed 37.5% of his remaining compensation, which was at least $4.6 million but could rise to $6 million after accounting for taxes and other potential obligations.
Performance-Based Incentives
DeVries’ contract includes several performance bonuses tied to team and individual achievements:
- $125,000 for winning the Big Ten regular season title
- $50,000 for winning the Big Ten Tournament
- $25,000 for making the NCAA Tournament
- $25,000 for reaching the Round of 32
- $35,000 for advancing to the Sweet 16
- $50,000 for making the Elite Eight
- $125,000 for a Final Four appearance
- $250,000 for winning the NCAA Championship
- $50,000 if named Big Ten Coach of the Year
- $50,000 for winning Naismith College Coach of the Year, AP Coach of the Year, or USA Today Coach of the Year (capped at $50,000 per season)
Additional Benefits
- A one-time $50,000 signing bonus for relocation
- $25,000 for moving expenses
- $10,000 annual allowance for Adidas products
- A courtesy car
- Season tickets for Indiana athletic events
- Unlimited access to the Pfau Golf Course
- License to operate a basketball camp
Contract Termination Terms
- If DeVries resigns or is fired for cause, Indiana is not obligated to pay any remaining salary.
- If DeVries is terminated without cause, Indiana must pay 80% of his remaining base salary and supplemental income.
- If terminated without cause, any income DeVries earns elsewhere will be deducted from his buyout, and he must report such earnings to Indiana.
Buyout Terms if DeVries Leaves Indiana
If DeVries chooses to leave Indiana, he must pay the following buyout amounts:
- 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
These terms ensure financial stability for Indiana while incentivizing long-term commitment from DeVries.
