Kevin Ollie signs new, $16 million deal with UConn

Connecticut head coach Kevin Ollie kisses guard Shabazz Napier after their team beat Kentucky 60-54 at the NCAA Final Four tournament college basketball championship game Monday, April 7, 2014, in Arlington, Texas. (AP Photo/David J. Phillip)

HARTFORD, Conn. (WTNH) — It’s official.

UConn men’s basketball coach Kevin Ollie has signed a new five-year contract worth about $16 million, a deal that will keep him in Storrs through the 2018-19 season, according to multiple reports.

The deal will be worth roughly $3 million and includes a retention clause.

Ollie shared his elation with his Twitter fans Thursday afternoon:

The new deal nearly doubles Ollie’s salary, as he made $1.25 million last year, including incentives. It’s a far cry from his original seven-month contract which guaranteed him next to nothing in terms of job security.

He’s come a long way in just two seasons, bringing the program from academic, recruiting and conference realignment turmoil to its fourth national championship since 1999.

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Former Huskies coach Jim Calhoun weighed in on Ollie’s then-impending deal on Tuesday.

“All I care about is Kevin’s happiness, and I think the fact that he’s staying here at UConn is a good thing for the state, and certainly a good thing for Kevin,” Calhoun said.

Ollie had been the target of several NBA teams, including the Cleveland Cavaliers and Los Angeles Lakers before signing the new deal with UConn.

The 41-year-old former UConn player said all along that he wanted to stay at UConn. Though he has plenty of NBA connections, Ollie said he loves the school and wanted to continue UConn’s proud basketball tradition.

He also wanted his family to stay put in Glastonbury, where his son Jalen is a standout football player.

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