University regents unanimously approved a new five-year contract for Arizona men’s basketball coach Tommy Lloyd during a public meeting this week, formalizing his decision to remain with the program after he announced at a Final Four news conference that he would stay. Lloyd did not go into full detail about the agreement at that press event, but university officials said negotiations — sparked in part by external interest — produced a sizable raise and commitments to increase financial support for assistants and players.
University leadership framed the deal as an investment in a program that has raised the school’s profile and brought the community together. The athletic director and university president both spoke before the vote, praising the team’s on-court style, the players’ academic performance (the squad posted roughly a 3.17 GPA) and the program’s broader impact on Tucson and the region. Lloyd reiterated that his priorities extend beyond wins and losses, describing his role as representing the university and serving the community.
The contract ramps Lloyd’s compensation to roughly $7.19 million in 2026-27 and includes modest increases in subsequent seasons. The five-year payout is structured across base salary, additional duties pay and compensation from the university’s athletic enterprise, with the package rising slightly each year through 2030-31. The agreement also contains performance-related bonuses and a clause that would increase the athletic enterprise portion by $500,000 for each remaining year if Arizona wins a national championship during the contract term.
Beyond annual pay, the agreement includes protections and incentives designed to stabilize the coaching staff and reward retention. Lloyd can offer multi-year contracts to a small number of assistant coaches and a special assistant that would guarantee their salaries if he is dismissed while those deals are active. There are also retention bonuses — paid at milestones during the contract — and a structured buyout formula that outlines what the school would owe if it terminates the contract without cause (with higher amounts specified if certain timing or conference-transition conditions apply).
The deal puts Lloyd among the highest-paid coaches in college basketball according to public salary compilations, significantly above his previous agreement in which he was scheduled to earn about $5.5 million plus performance incentives. University officials indicated the program’s roster and operations budget — reported to be near $10 million in the prior season — could receive additional school-funded resources and more aggressive fundraising to help generate outside NIL support for players.
At the same meeting, regents also approved a five-year contract worth $18.5 million for Randy Bennett, who is leaving Saint Mary’s after a long and successful tenure. Bennett built the Gaels into a consistent West Coast Conference contender over 25 seasons, and the new contract for his move to ASU includes its own mix of salary, bonuses and incentives — including a payoff tied to recruits enrolling in the university’s honors college. Bennett’s introductory press appearance was postponed because of a health issue, but he released a statement expressing enthusiasm for coaching in a major conference and building the Sun Devils program.
Taken together, the agreements reflect a commitment by both universities to invest in their men’s basketball operations, with increased compensation for head coaches, added protections for staff, and provisions intended to expand resources for players and program development while emphasizing academic performance and community impact.
