Crean would have to pay Indiana $3M for early opt out
INDIANAPOLIS -- Indiana is serious about keeping new basketball coach Tom Crean.
Under a preliminary deal between Crean and the university, Crean would owe $3 million if he resigns in the first three years of an eight-year contract. The amount lowers to $2 million in years four and five. It would be $1 million the last three years of the deal.
The contract is worth more than $18 million.
Indiana agreed to pay $650,000 to help buy out Crean's contract at Marquette, where he was signed through 2017.
The Indiana deal calls for Crean to receive an annual base salary of $600,000 and more than $1 million a year for promotional appearances and other off-court work.
A final contract is expected to be signed by May 15.
Copyright 2008 by The Associated Press