BLOOMINGTON – Indiana University men’s basketball head coach Mike Woodson is getting a $1 million-per-year raise on the contract he originally signed in 2021 after taking the team to two straight NCAA Tournaments.
The school made the announcement on Friday morning.
Woodson will now earn an average of $4.2 million per year on the remaining four years of his contract.
“The salary adjustment makes the third-year IU head coach one of the three highest-paid men’s basketball coaches in the Big Ten,” according to a news release.
Woodson joins Michigan State’s Tom Izzo and Illinois’ Brad Underwood among the three highest-paid coaches in the Big Ten.
Woodson is 44-26 in two years at Indiana and is 2-2 in the NCAA Tournament.
“Upon his arrival, Coach Woodson immediately re-inserted our program into the national conversation both in terms of an elevated level of success on the court and in recruiting. I knew that returning our program to the level that Hoosier fans rightfully expect would be a process that wouldn’t happen overnight. I have been extremely pleased with the steps we have taken during the last two years. I believe under Coach Woodson’s leadership, we have positioned the program to compete at the highest levels in recruiting, which in turn will enable us to compete at the highest levels within the Big Ten and in the NCAA Tournament.” – Scott Dolson, IU vice president and director of athletics.
Woodson guided the Hoosiers to their first back-to-back NCAA Tournament appearances in a decade. Last season, IU advanced to the Round of 32 in the NCAA Men’s Basketball Division I Tournament before falling to Miami (Fla.).
IU’s No. 4 seed in the NCAA Tournament last year was the highest NCAA seed for the Hoosiers in 11 years.
Woodson has a 44-26 overall record during his two seasons in Bloomington.