NC State men's run to Final Four could be worth than $9 million to coach Kevin Keatts

The North Carolina State men's basketball team's extraordinary postseason run continued Sunday, and coach Kevin Keatts' financial present — and future — kept getting brighter.

The No. 11 seed Wolfpack reached the Final Four with a 76-64 defeat of No. 4 seed Duke in the South Region final. As a result, in addition to $300,000 in on-court performance bonuses this season, Keatts now stands to gain at least $8.8 million in future scheduled contract value from his team’s five-wins-in-five-days run through the Atlantic Coast Conference tournament and continued roll through the NCAA Tournament.

According to Keatts’ contract with N.C. State, winning the ACC tournament and then advancing to the Final Four has resulted in:

▶An automatic two-year contract extension. This means the contract is now scheduled to run for six more years, through April 15, 2030.

▶An automatic $500,000 pay increase that begins next season and stays in place for the remainder of the contract.

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The increase is set to occur in a component of Keatts' contract that is not guaranteed if he is fired without cause. But because Keatts' base salary — currently just under $1.5 million — is fully guaranteed, the two additional years are assured to be worth at least $3 million.

However, working against Keatts' current total compensation from the school -- currently just over $2.9 million -- he is now scheduled to be paid an additional $500,000 in each of what had been the four remaining years of his contract. That's $2 million added.

Then there are the two newly added years, for which he currently is set to be paid just over $3.4 million annually. That's a little more than another $6.8 million.

And, even if nothing else in his contract changes, it likely will be more than that because in each of the past three years, his base salary has increased 2% to 4%.

In terms of lump-sum bonuses to be paid following this season, Keatts has earned on-court bonuses worth $300,000.

▶A $100,000 for the ACC tournament championship and an additional $25,000 when the Wolfpack's automatic NCAA Tournament bid resulted in them beginning play in the round of 64.

▶A $25,000 bonus for the team's first victory in the NCAA Tournament, and $50,000 for each of the next three for a total of $175,000.

Keatts could would get another $50,000 bonus if N.C. State beats Purdue in the national semifinals. If the Wolfpack win the national title, he would get an additional bonus of $150,000 and his pay increase would rise to $600,000. Keatts also can get three separate bonuses based on the team's academic achievements.