John Calipari has signed a new long-term contract with Kentucky.

The Wildcats' head basketball coach, who will be entering his 11th season at UK, can earn $86 million over the term of the new deal. He'll make $8 million in total compensation the next two seasons with increases starting in 2021-22 raising the annual salary to $8.5 million for four seasons. In 2025-26, the figure increases to $9 million for four seasons.

“One of the truly unique things about Kentucky men’s basketball is its legacy of head coaches who have made their own lasting mark on this program. John is a perfect illustration of that,” Athletics Director Mitch Barnhart said in a statement released by UK.

“He has added a special chapter to the greatest tradition in college basketball and it’s a chapter we want him to continue writing until the end of his coaching career. We are pleased to announce a new contract that will enable him to do exactly that.”

The lone incentive in the new deal remains the performance of the team in the NCAA's Academic Progress Rate. The bonus will remain $50,000 annually if the Cats meet the threshold of 975. UK has been honored for five straight years, finishing in the top 10 percent of Division I men's programs.

An option in the contract exists that will allow Calipari to step down as head coach and become a special assistant to the athletics director and university representative. He would receive $950,000 in annual compensation for that position.

“I want to thank the university, Dr. Eli Capilouto, Mitch Barnhart and DeWayne Peevy for approaching me with the opportunity to finish my career at Kentucky,” Calipari said. “I’ve said from day one that this would be the gold standard and it has been for student-athletes and coaches. As I enter my 11th year, I’m reminded it took me 20 years to get an opportunity to like this. There is no other place I want to be. As I look forward, my mindset is what’s next and how can we be first at it for the young people that we coach.”

Calipari has a 305-71 record with the Wildcats. He trails only Adolph Rupp in wins at UK. His winning percentage of .811 through 376 games is also second only to Rupp. The three-time Naismith National Coach of the YEar has 31 NCAA Tournament wins, the most by any UK head coach, including one national championship and four trips to the Final Four.