December 1, 1998
COLLEGE PARK, Md. (AP) -- With his basketball team ranked No. 2 in the nation, Maryland coach Gary Williams now has a contract that could keep him at the university until 2008.
The new contract includes a base salary of more than $156,000 with numerous bonuses tied to the team's performance. If the Terrapins reach the NCAA Final Four, Williams would make about $800,000, sources told The (Baltimore) Sun. An NCAA title could earn him as much as $900,000, according to the newspaper.
That represents an increase of $300,000 from Williams' old contract. In 1994, Williams signed a seven-year deal with a three-year rollover option.
Under the terms of the contract announced Monday, Williams would remain coach through May 2005, with an option for three additional years.
Williams, 53, will continue to be compensated for radio and television appearances, a shoe and apparel deal with Nike, and basketball camps.
The school will also pay annual premiums on a $1 million disability insurance policy.
``I really wanted it done before the season started but it didn't work out that way,'' Williams told The Washington Post. ``But it's great to have it done now. I don't have to worry about it anymore.''
Maryland is enjoying its best season in years with a 7-0 record and a No. 2 ranking in The Associated Press poll. The Terps has been in the 64-team NCAA tournament for the past five years and reached the Sweet 16 last year.
