From our Florida State site at Rivals.com.
Details of basketball coach Luke Loucks' five-year contract with FSU
By: Bob Ferrante - The Osceola
Luke Loucks signed a five-year contract to be Florida State's men's basketball coach on Sunday. Details of the contract were released to the Osceola and other news outlets as part of a public records request on Tuesday.
Loucks will earn $2 million in year 1, which runs through April 30, 2026.
Year 2: $2.175 million
Year 3: $2.35 million
Year 4: $2.55 million
Year 5: $2.75 million
FSU's staff pool is $1.7 million. Note this would include assistant coaches and a general manager, if Loucks chooses to hire one.
Loucks will also earn retention bonuses of $50,000 if he's employed at FSU in June 2027 and $100,000 if he is employed in June 2029.
He also has the chance to earn incentives for an NCAA Tournament appearance ($150,000) as well as an ACC regular season title or ACC Tournament title ($100,000 apiece).
There's also an interesting clause for winning 20 regular-season games ($50,000), while it increases to $55,000 for 21 regular-season wins and in $5,000 increments up to $75,000 for 25 regular-season wins.
He will also earn incentives if FSU basketball hits graduation success rate ($25,000) as well as academic progress rate ($15,000) benchmarks.
FSU would owe coach 85 percent of his remaining salary if he is terminated, which would be paid in equal monthly installments. If Loucks terminates his deal, the buyout would begin at $2.5 million and slide downward to none by April 2029.
Loucks did not have a buyout with the Sacramento Kings, a source confirmed to the Osceola.
Leonard Hamilton earned $2.25 million in the 2024-25 season, his 23rd as FSU's coach.
Details of basketball coach Luke Loucks' five-year contract with FSU
By: Bob Ferrante - The Osceola
Luke Loucks signed a five-year contract to be Florida State's men's basketball coach on Sunday. Details of the contract were released to the Osceola and other news outlets as part of a public records request on Tuesday.
Loucks will earn $2 million in year 1, which runs through April 30, 2026.
Year 2: $2.175 million
Year 3: $2.35 million
Year 4: $2.55 million
Year 5: $2.75 million
FSU's staff pool is $1.7 million. Note this would include assistant coaches and a general manager, if Loucks chooses to hire one.
Loucks will also earn retention bonuses of $50,000 if he's employed at FSU in June 2027 and $100,000 if he is employed in June 2029.
He also has the chance to earn incentives for an NCAA Tournament appearance ($150,000) as well as an ACC regular season title or ACC Tournament title ($100,000 apiece).
There's also an interesting clause for winning 20 regular-season games ($50,000), while it increases to $55,000 for 21 regular-season wins and in $5,000 increments up to $75,000 for 25 regular-season wins.
He will also earn incentives if FSU basketball hits graduation success rate ($25,000) as well as academic progress rate ($15,000) benchmarks.
FSU would owe coach 85 percent of his remaining salary if he is terminated, which would be paid in equal monthly installments. If Loucks terminates his deal, the buyout would begin at $2.5 million and slide downward to none by April 2029.
Loucks did not have a buyout with the Sacramento Kings, a source confirmed to the Osceola.
Leonard Hamilton earned $2.25 million in the 2024-25 season, his 23rd as FSU's coach.
