Auburn and basketball coach Bruce Pearl have agreed to a five-year contract to keep him with the Tigers through the 2023-24 season, athletic director Allen Greene announced Friday.
Financial terms were not disclosed but Auburn Undercover reported he will earn $3.8 million the first season, with a subsequent raise of $125,000 a year thereafter. He also has a buyout of $8 million in the first year, which drops by $2 million a year, according to the report.
Pearl led Auburn to its first NCAA Final Four this season, with the Tigers losing a 63-62 heartbreaker in the national semifinal to eventual champion Virginia.
"Under Bruce's leadership, our basketball program has reached new heights. Our young men continue to thrive in the classroom and on the court. We've experienced many firsts, including a well-documented run to the Final Four and a pair of SEC titles," Greene said. "... Simply stated, we look forward to having Bruce as the head coach of our basketball program for many years to come."
Previously the head coach at Southern Indiana, Milwaukee and Tennessee, Pearl has been at Auburn since 2014. In that time, the Tigers are 100-72.
In Pearl's six seasons at Tennessee, the Volunteers posted a 145-61 (.704) record and made six NCAA Tournament appearances.
Pearl, 59, has a career mark of 331-171.
"I'm grateful to my coaching and support staff for building a competitive men's basketball program," Pearl said in a news release. "I'm grateful to our players for buying in, working extremely hard and representing what being an Auburn man and student-athlete is all about."