One thing I found interesting while looking over Kansas State basketball coach Frank Martin’s contract today is that he is eligible for an extension.
The contract, signed in March 2010, lists specific criteria that can trigger the negotiation of a new contract. They include K-State advancing to the Sweet 16, earning a 1 or 2 seed in the NCAA Tournament, finishing in a tie for third or better in the Big 12 regular season standings, winning the Big 12 Tournament or Martin winning Big 12 or National Coach of the Year honors before the conclusion of the 2011-12 season.
By finishing 10-6 in conference play this season, and tying with Texas A&M for third, Martin has met that criteria.
According to contract language, Martin and K-State athletic director John Currie are now supposed to, “agree to negotiate in good faith from April 1, 2012 to May 31, 2012 a modification, extension, or revised employment agreement.”
If they fail to reach an agreement during that negotiation period, the amount of Martin’s buyout, which is currently $1,000,000 shall immediately become $500,000.
With speculation flying from media and fans in both south Florida and Kansas that Miami will likely show interest in Martin to replace departed coach Frank Haith, Currie could choose to bump up the timetable listed in Martin’s contract and try to come up with a new deal now.