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Details Released for New Ollie Contract

News broke on Monday, but now Kevin Ollie and the University of Connecticut have officially announced a contract extension


"Pay that man his money."

This afternoon Kevin Ollie signed a new contract to remain Head Coach at UConn. The deal is for five years and between $2.8-$3.2 million per year. Zero state funds will be used for any part of his compensation package.

Reports first broke out on Monday that the two sides had agreed to terms. ESPN et al. loved stoking the flames of Kevin Ollie/NBA rumors but most of us felt pretty certain he wouldn't leave UConn after just two years.

Questions still remain about how long Ollie plans on staying with the Huskies. He did meet with NBA teams, and even if his interest was cursory, there is still clearly some interest. It's certainly a relief to know he'll be around next year, but we're going to have this possibility hanging over our heads again in the near future. The NBA buyout is $5 million next year, goes down to $4 million the following year and drops to $1 million for the 2016-17 season.

I'm hoping this gets the ball rolling for recruiting. Daniel Hamilton should be getting his letter of intent; he stated in an interview that he wanted to make sure Ollie would be around before sending it in. I think there might be a few others in the Class of 2015 or 2014 graduate transfer pool who were waiting this decision out. Who knows, maybe Ollie has a 2014 freshman up his sleeve.