Las Cruces, New Mexico (KTSM) – If all goes to plan, New Mexico State men’s basketball coach Chris Jans will be with the Aggies for four more years.
NMSU athletic director Mario Moccia announced on Wednesday that Jans had signed a contract extension that added an extra year to his original year, keeping him in Las Cruces through the 2022-23 season. The contract extension is in accordance with the offer NMSU made to Jans that KTSM reported on in March, 2019. It also raises Jans’ total yearly earnings to over $500,000 per season, according to the new contract obtained by KTSM on Wednesday.
“He has more than overperformed,” Moccia said. “For what we are paying him, for what he’s delivering, it’s a massive disparity, so I’m very pleased that we were able to inch him closer to some of his peer coaches. He’s now in the zip code of some of the other coaches, but he’s still in my opinion and by industry standards, significantly underpaid for what he’s producing.”
With limited resources at his disposal, Moccia had to get creative to increase Jans’ pay. With his new contract, Jans’ base salary remains at $290,000; it’s in the retention incentive payment that Moccia upped his salary.
Every November, for the duration of Jans’ stay as the head coach in Las Cruces, he will receive a retention bonus of $216,000, simply for remaining the Aggies’ head coach. The payment had originally been $139,000 every November, but Moccia told KTSM that he was able to raise funds through private donations from boosters to increase the retention bonus by $77,000.
An important point of Jans’ retention bonus, noted Moccia, is that none of the funds will come from NMSU’s athletic operations budget.
Moccia told KTSM on Wednesday that the breakdown of the retention bonus is as follows: $77,000 the next two years comes from the new donations given by 12 NMSU boosters this year; $65,000 is comprised of a three-year commitment in 2018 from eight donors; $33,000 of funding for three years is from a basketball coach retention fund that was pledged by former Aggies donor Stan Fulton; and $41,000 is from deficit savings approved in 2018.
In 2021, the donor commitments will expire, so if Jans is still the New Mexico State head coach, Moccia will have to raise $175,000 to pay the retention bonus. He told KTSM on Wednesday that he’d eventually like to see the retention payment simply become a part of the NMSU athletic department budget.
Another new aspect of Jans’ contract: NMSU is requiring him to raise $100,000 per season from guarantee games. If he raises more than $100,000 in a season, then the money left over can be used towards his salary or his assistant coaches’ salaries.
Jans retained all of his performance incentive bonuses from his previous contract, including a payment of $10,000 for winning the WAC, $10,000 for qualifying for the NCAA Tournament and $5,000 each for wins over New Mexico and UTEP.
Per his contract, obtained Wednesday by KTSM, Jans’ buyout remains half of whatever is remaining on his contract, or $50,000, whichever figure is higher. If Jans leaves between May 1, 2022 and April 30, 2023, the buyout is $50,000.
Jans and the Aggies will open the 2019-20 season November 5 at 7 p.m. against Western New Mexico.