Mike Boynton contract details: Salary, buyout, bonuses for new Michigan head coach

New Michigan head men’s basketball coach Mike Boynton’s contract is for two years and $7.6 million, according to MLive. The deal also includes bonuses. Boynton is set to make $3.6 million in 2026-27, which is the first year of the contract. On May 1, 2027, that figure goes to $4 million for 2027-28. He will also get a $250,000 signing bonus “in recognition of his efforts while serving in an interim head coaching capacity” after Dusty May left for the NBA, according to MLive. [ $19.99 gets you a FULL year of On3 | Rivals national coverage ] With regard to a buyout, Boynton would be owed $3 million minus what ever he has already earned if he was fired without cause before the end of Year 1. If Michigan was to fire him in the second year of the deal, the school would owe the amount left on the contract. The bonuses in Boynton’s contract include $50,000 for winning Big Ten Coach of the Year and $100,000 for a Big Ten regular-season title. He can also earn $100,000 for a conference tournament championship and his escalators through the NCAA Tournament would culminate with $1.5 million for a national title. Prior to joining Michigan’s staff upon May’s arrival, Boynton was the head coach at Oklahoma State from 2017-24 after previously working for the Cowboys as an assistant. He had a 119-109 overall record in Stillwater prior to his departure following a 12-20 overall record, including a 4-14 mark in Big 12 play, in 2023-24. From there, May brought him to Michigan as the top assistant. May left Michigan to take over as the Dallas Mavericks’ head coach last month, sending a shockwave across college basketball. From there, Wolverines athletics director Warde Manuel announced Boynton would take over as the interim head coach, and the school removed the interim tag just a few weeks later. “I’m grateful to Warde for his confidence and thankful for the opportunity to lead this program,” Boynton said in a statement. “We have built a championship culture and a standard that everyone associated with this program takes great pride in. We have an outstanding group of players, and I’m excited to get to work and continue the success we’ve established together.” Since May’s departure, Mike Boynton and Michigan did a good job retaining players on the roster, including newcomers who are on their way to Ann Arbor. Only guard LJ Cason is planning to enter the transfer portal.