Mar 31, 2007, 5:45 GMT
College Station, TX - Texas A&M announced Friday that Billy Gillispie agreed to a new contract with the university.
Gillispie's former contract included a base salary of $500,000 and his supplemental income bolsters his yearly total to $1.75 million and extends the contract three years to the end of March 2015. He is still slated to receive the $1 million bonus if he fulfills the contract to 2012, and will get an additional $750,000 if he fulfills the new contract to 2015.
'I am thankful for the commitment Texas A&M continues to make to allow us to do the things we need to do, to achieve our ultimate goal - winning a national championship,' Gillispie said. 'The commitment has been there since day one and continues to grow stronger still.'
Gillispie led the Aggies to a 27-7 record in 2006-07, the most wins in school history. They advanced to the Sweet 16 in the NCAA Tournament for the first time since 1980, downing Penn and Louisville before falling to Memphis by one point in the regional semifinal.
Texas A&M finished with a 13-3 conference mark, one game behind regular-season champion Kansas, for its highest-ever finish in Big 12 history.
'I am so proud of Billy and the job he has done here at Texas A&M,' Texas A&M athletics director Bill Byrne said. 'I said when we hired Billy that I thought he was the perfect fit for Aggieland and the State of Texas. He is a former Texas high school coach and he and his staff do a great job of recruiting. The winning is impressive, but I especially like how Billy stresses the value of an Aggie degree. All six Aggie seniors will have their degrees by this August. He is committed to his team and we are committed to Billy and his basketball family.'
Gillispie was named the Big 12 Coach of the year and a finalist for NCAA National Coach of the Year. In three years with the Aggies, he has attained a 70-26 record.
Gillispie came to Texas A&M off a season in which he led UTEP to one of the best turnarounds in college basketball history. UTEP went from losing 24 games during the 2002-03 season to winning 24 in the following campaign, Gillispie's second at the helm.
© 2007 The Sports Network
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