Florida basketball coach Todd Golden gets another contract extension and a $1.5M raise

GAINESVILLE, Fla. (AP) — Todd Golden's third raise in as many years will make him the second-highest paid basketball coach in the Southeastern Conference.

The 40-year-old Florida coach signed a one-year extension earlier this month that increased the total value of his deal to $49.5 million. It averages $8.25 million annually and keeps him under contract through the 2031-32 season.

Golden's salary for next season jumps from $6 million to $7.5 million. He's due a $300,000 raise annually, with the contract culminating at $9 million in its final year. Only Kansas' Bill Self, UConn's Dan Hurley and Arkansas' John Calipari are slated to make more than Golden next season. New North Carolina coach Michael Malone also will make $7.5 million this season.

Golden’s deal is nearly fully guaranteed. Florida would owe him 85% of the remaining value if the school fired him without cause at any point.

Golden’s buyout to leave Gainesville starts at $16 million next season and drops annually: $13 million in 2027-28; $5 million in 2028-29; $3 million in 2029-30; $2 million in 2030-31; and $1 million in 2031-32.

However, Golden can leave for the NBA at a much lower price. His NBA buyout begins at $3 million next season and drops to $2 million (2027-29) and then $1 million in 2029-30.

Included in Golden’s annual compensation is a $500,000 annual longevity incentive and a $100,000 annual expense account. In addition to that, he gets 30 hours of free use of the university athletic association’s jet and other fringe benefits (cars, tickets, travel, etc.) valued at $62,000.

He would earn a $100,000 bonus for winning the SEC regular-season championship, a $50,000 bonus for winning the SEC Tournament, a $100,000 bonus for making the NCAA Tournament and a $50,000 bonus for every NCAA Tournament victory.

He also would get an additional $100,000 if his team's academic progress rate reaches 965.

The Gators made it clear in May that they wanted to get another deal done with their brightest coaching star, and the sides had most of the details worked out months ago. The finishing touches were finalized this month, weeks before the start of fall practice.

Golden’s raise also makes him the highest-paid coach on Florida’s campus; first-year Florida football coach Jon Sumrall’s six-year contract averages $7.45 million annually.

Golden has done plenty to earn his latest payday. He is 103-41 (.715) in four seasons in Gainesville, including a 36-4 mark in 2024-25 while leading the Gators to the program’s third national title.

And Florida is the betting favorite to win it all again this season. Golden returns nearly 82% of his team’s scoring from last season, most notably front-line stars Rueben Chinyelu, Alex Condon and Thomas Haugh.

Golden joined Florida in 2022 after three seasons at San Francisco. He got his first contract extension after Year 2, signing a deal that bumped his annual salary to $4.1 million. He signed another one last year that raised his salary to $6 million.

Sign up for Top 25 poll alerts here , visit the Top 25 here and see AP’s full men’s basketball coverage here