Niko Medved Set to Receive Extension, Raise Through 2032

According to documents available to the public for Minnesota’s upcoming Board of Regents Special Board Meeting on Wednesday, July 22, 2026, Minnesota head men’s basketball coach Niko Medved is set to receive a one-year contract extension and a pay raise. Once approved on Wednesday, Medved’s six-year contract that began last year on March 24, 2025, will now be extended through the 2032 season. He will now also receive additional compensation after his original contract called for a total compensation of $3 million. Now, Medved, on top of his $400,000 base salary, will receive $2,800,000 in total supplemental compensation thanks to a $100,000 contractual escalator and an additional $100,000 increase. The $3.2 million total compensation for Medved, however, still ranks among the lowest in the Big Ten, ranking 17th out of 18 total programs. Buyout information If Minnesota fired Medved without cause over the next three years, the university would be on the hook for the total contract. Those total buyout estimates would break down as follows. 2026 – $19.2 million2027 – $16.0 million2028 – $12.8 million If fired following the 2028 season but ahead of the 2029 season or after, the university would have to pay 75% of the total remaining compensation. 2029 – $7.2 million2030 – $4.8 million2031 – $2.4 million2032 – End of contract If Medved, however, would accept a head coaching position elsewhere, the breakdowns would be as follows. 2026-27: $10 million2027-28: $7 million2028-29: $5 million2029-30: $3 million2030-31: $500,0002031-32: $0 Incentives Here are the incentives for Medved each season. Notably, for the NCAA Tournament, Medved will receive the highest single bonus achieved and will not be able to accumulate the bonuses. NCAA Tournament NCAA Championship – $500,000NCAA Runner-up – $300,000Final Four – $200,000Elite Eight – $150,000Sweet Sixteen – $100,000NCAA Tournament Round of 32 – $75,000NCAA Tournament Round of 64 – $50,000 Big Ten All Big Ten bonuses can be accumulated. Regular Season championship – $50,000Tournament championship – $50,000Big Ten Regular Season winning record – $50,000 Follow us on Twitter Follow us on Instagram Like our page on Facebook Subscribe to our YouTube Channel Talk about it inside Inside Gophers Nation