Jerome Tang gets big raise and unique buyout clause in new contract from Kansas State

When Kansas State basketball coach Jerome Tang turned down an opportunity to leave for Arkansas in the spring, it went without saying that the Wildcats were eager to reward him with a contract extension.

A few short months later, they have done exactly that.

K-State president Richard Linton, athletic director Gene Taylor and Tang have each signed an amendment to Tang’s employment agreement that could be worth more than $28 million for the third-year head coach before his contract expires in 2031.

The new deal will boost Tang’s salary by $500,000 per year. He is set to earn $3.5 million during the 2024-25 season, and that number will increase by $100,000 annually until it maxes out at $4.1 million in his final year. On top of that, Tang will also receive a retention bonus of $200,000 at the successful completion of each contract year between April 15 of 2025 and April 30 of 2031.

Tang can cash that bonus yearly regardless of how many games the Wildcats win during a given season. All he has to do is remain employed at K-State. Consider it a loyalty reward.

A bonus system remains in place that could further boost his yearly earnings based on performance. Tang can earn anywhere from an extra $10,000 for guiding K-State to the NIT to an additional $600,000 for reaching the national championship game.

Tang’s salary ranks sixth in the new Big 12 according to the USA TODAY coaching salary database. Coaches ahead of him are Bill Self (Kansas), Scott Drew (Baylor), Kelvin Sampson (Houston), Jamie Dixon (TCU) and Tommy Lloyd (Arizona).

Perhaps the most interesting part of Tang’s new contract can be found in the buyout section.

His buyout numbers have decreased slightly, from $6 million to $5 million. That number will remain in place until April 30, 2025, then it will decrease by $1 million annually until it bottoms out at $1 million during the 2029-30 season.

There is no buyout listed beyond 2030.

Those numbers will shift even more in the event that Taylor is no longer employed as K-State’s athletic director. According to a copy of Tang’s amended contract, which was obtained by a record request, his buyout figures will be reduced by 50% for 12 months following any type of departure by his boss.

In other words, his current buyout would drop to $2.5 million without Taylor.

K-State football coach Chris Klieman has a similar clause in his contract. If either Linton or Taylor is no longer employed at K-State then Klieman may terminate his contract for just $1 million at any point before his buyout drops to zero.

Both coaches appear to be loyal to their athletic director.

The Wildcats would owe Tang significantly more in guaranteed money if they decide to terminate him without cause.

Should K-State choose to make a coaching change before April 30, 2026, it would owe Tang $18.7 million. That number begins to drop annually from there. The Wildcats would owe him $15.75 million the following year, then $12.75 million, then $9.7 million, then $6.5 million and finally $4.4 million or the remaining unpaid base salary on his contract in the final year of his deal.

K-State is also expected to devote more money to Tang’s assistant coaches. Influential donors have already begun pouring more money into NIL opportunities for his players.

School administrators hope that this contract extension will keep Tang in Manhattan for the long haul.

Tang is off to a 45-24 start with the Wildcats. He guided them to 26 victories and a trip to the Elite Eight in his debut season. He followed that up with 19 wins and an appearance in the NIT earlier this year.