Indiana basketball head coach Mike Woodson receives $1 million annual raise on current contract

Indiana announces that Mike Woodson will earn a $1 million per year raise on the contract he originally signed in 2021. This comes after guiding the Indiana basketball program to back-to-back NCAA Tournament appearances and a No. 2 overall finish in the Big Ten in 2022-23.

Woodson will now receive a $4.2 million annual salary on the remaining four years of his contract.

Below is the full release from Indiana.

BLOOMINGTON, Ind. – After guiding the Indiana men’s basketball program to its first back-to-back NCAA Tournament appearances in a decade, IU head coach Mike Woodson has earned a $1 million per year raise on the contract he originally signed in 2021.

Woodson will earn an average of $4.2 million annually on the remaining four years of his contract. The salary adjustment makes the third-year IU head coach one of the three highest paid men’s basketball coaches in the Big Ten.

“Upon his arrival, Coach Woodson immediately re-inserted our program into the national conversation both in terms of an elevated level of success on the court and in recruiting,” said IU Vice President and Director of Athletics Scott Dolson. “I knew that returning our program to the level that Hoosier fans rightfully expect would be a process that wouldn’t happen overnight. I have been extremely pleased with the steps we have taken during the last two years. I believe under Coach Woodson’s leadership, we have positioned the program to compete at the highest levels in recruiting, which in turn will enable us to compete at the highest levels within the Big Ten and in the NCAA Tournament.”

In his first two seasons in Bloomington, Woodson has compiled a 44-26 overall record, earned two NCAA Tournament appearances, and won an NCAA Tournament game each season. His 2022-23 team earned a No. 4 seed in the NCAA Tournament, IU’s highest NCAA seed in 11 years.

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