August 13, 2009

Derek Redd, Osceola
Warchant.com Staff

Leonard Hamilton's contract signed August 10, 2009

Florida State rewarded men's basketball coach Leonard Hamilton for one of the most successful seasons in team history, signing him to a new five-year contract that will pay him nearly double his previous annual compensation.

Hamilton's new contract, announced in April, will pay him $1.5 million annually. His previous contract paid him around $800,000 a year. Hamilton's base salary will be $205,000. He also will earn $500,000 a year from radio and television duties, $630,000 through speaking engagements and public relations duties and $165,000 from the university's contract with Nike.

He also could earn more than $500,000 in bonuses if he and the team reach certain goals like qualifying for the NCAA Tournament, reaching the Sweet 16, Elite Eight or Final Four, winning an ACC regular season or tournament title or maintaining certain graduation rates.

The Seminoles made the NCAA Tournament for the first time since 1998 this past season, losing to Wisconsin in the first round and finishing the season at 25-10. Those 25 wins tied the 1992-93 team for the second-highest win total in team history. Hamilton was named the ACC Coach of the Year by the conference's media and national coach of the year by Basketball Times.

FSU has won at least 20 games in three of the last four seasons. Two of Hamilton's players - Toney Douglas and Al Thornton - have been runners-up in ACC player of the year voting and first-round NBA draft picks. In March, before contract negotiations began, FSU president T.K. Wetherell said he was sure the university would make Hamilton a worthy offer.

"I'm convinced that Leonard will be back at Florida State and he'll be a happy, happy, happy camper," Wetherell said.

Talk about it on the Tribal Council or the Hoops Message Board.