UM Board approves coach's new contract
St. Louis, MO – The University of Missouri Board of Curators has signed off on basketball coach Mike Anderson's new seven-year contract.
Anderson was given a $500,000 raise. He'll now earn $1.3-million a year as well as an additional $200,000 in deferred annual payments. University President Gary Forsee says Anderson deserved the new deal after leading the team to a record number of wins, including three in the NCAA postseason tournament.
"When you have a coach that's performing and a program that has significantly improved with our student athletes on and off the court, then you want to do whatever you can in that context to keep your own, if you will, as opposed to watching something else convey," Forsee said.
Forsee says the fact that Missouri's athletic department raises the vast majority of its own funds played a large part in approving Anderson's new contract. Forsee has instituted a hiring freeze and a salary freeze for all faculty and staff due to the downturn in the economy.