Payne, who was paid $350,000 per year in his previous deal, will now make $500,000 annually. His contract expires on June 30, 2016.
Payne was also promoted to associate head coach.
“There’s not a better partner to work with to help these young men achieve their dreams,” Calipari said of Payne in a news release announcing the new deals.
“His feel for the game and ability to develop players is second to none. I have all the confidence in the world that Kenny will make a great head coach someday, but we’re ecstatic to have him as a part of our staff as associate head coach for the near future,” Calipari said.
Payne could earn an additional $5,000 each year if the team receives at least a .950 academic progress rating from the NCAA.
Payne’s $500,000 salary means he’ll earn more than at least 16 head coaches of 2014 NCAA tournament teams made last year, per USA Today’s coaching salary database. (There was no information available on 10 of the schools in the field, including Mercer, American, Mt. St. Mary’s and Delaware, so Payne’s pay could outpace even more coaches.)
According to Basketball Reference, Payne would be paid just as much as he was paid in his final season with Philadelphia Sixers in 1992-1993 ($500,000).
Payne was paid $400,000 for his 1990-91 NBA season, and $410,000 for the following 1991-1992 season.
As a player, Payne spent four seasons in the NBA, playing for Philadelphia Sixers between 1989 and 1993, at the small forward position.
Payne averaged career-high 6.5 ppg in his final season for the Sixers in 1992-1993. He played in total of 144 NBA games (13 started), averaging 3.5 ppg in 8.1 mpg.Follow @exnbadotcom
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