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UConn Signs Kevin Ollie To 5 Year Deal

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  • UConn Signs Kevin Ollie To 5 Year Deal

    Kevin Ollie is on the verge of signing a contract extension worth $3 million a year at Connecticut - ESPN

    Guess he isnt NBA bound for awhile now.

    UConn and Kevin Ollie are on the verge of finalizing a five-year contract that will pay the coach close to $3 million a year, a source with direct knowledge of the negotiations told ESPN on Monday.

    Ollie hasn't signed the deal and is still negotiating two key points, including assistant coaching salaries as well as student athlete welfare issues, sources with direct knowledge told ESPN. But the sources say that Ollie and the school hope to have a deal done by Wednesday.

    Ollie coached the Huskies to the national title last month, the school's fourth since 1999, and is in the second year of a five-year contract. The source said that contract will be replaced with the new one once it is finalized.

    The contract will more than double Ollie's salary. He was paid $1.25 million this past season. Ollie was originally given a seven-month contract when he replaced Hall of Fame coach Jim Calhoun in September 2012. Three months later, he was given a five-year contract worth an estimated $7.5 million.

    The new deal is projected to make Ollie the highest-paid coach in the American Athletic Conference.

    The source said that no NBA team called UConn officials seeking permission to speak with Ollie, although teams may have called Ollie's representatives.

    The source said UConn first approached Ollie about a new contract after the Huskies beat Iowa State in the Sweet 16, but the sides didn't get together until well after the Final Four.

    Yahoo! Sports reported earlier Monday that Ollie and UConn agreed in principle to a $3 million-plus annual contract extension.
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