CSU extends Larry Eustachy's contract through 2019-20

Larry Eustachy’s contract as CSU men’s basketball coach has been extended another year, through the 2019-2020 season, athletic director Joe Parker announced Tuesday night.

Eustachy has guided the Rams to a record number of wins in two of his first three full seasons as coach, leading his 2013-13 team to a 26-9 mark and his 2014-15 team to a 27-7 record.

The original five-year contract Eustachy signed when he was hired April 11, 2012, included options to extend the deal for an additional year after each of his first three years. This is the second such extension, with an option to extend it another year through the 2020-21 season available after the current season.

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Eustachy’s contract calls for a base salary of $946,764 this season, increasingly by about $20,000 a year annually to nearly $1.25 million in 2019-20. He has numerous bonus incentives, as well, including $40,000 for winning 20 games in a season, $100,000 for winning a Mountain West championship and $200,000 for advancing to the NCAA tournament. His base salary automatically increases the following season if in any year his teams advance to the NCAA tournament’s Sweet 16 ($1.25 million), Elite Eight ($1.5 million) or Final Four ($2 million).

Eustachy, 60, has a 74-35 record at Colorado State University, including a 5-3 mark this year entering a home game Wednesday night against Arkansas-Fort Smith. He’s closing in on his 500th career victory with a 476-293 record in 25 seasons as a head coach, with previous stops at Idaho, Utah State, Iowa State and Southern Mississippi.

“I have said on many occasions this is where I want to finish my career,” Eustachy said in a news release. “We have had success here in the first several years, and we have outstanding support from our university, administration, athletic department and fans.

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“I am extremely optimistic about the future of this program and excited about where we can go and what we can do.”

CSU has advanced to postseason play twice in Eustachy’s first three full seasons as coach, making it to the NCAA tournament in 2012-13 and to the National Invitation Tournament last season.

“He has grown the program and put it even more prominently on the national stage,” Parker said. “He has also worked hard on the student-athlete success off the floor, showing a commitment to the entire well-being of this team. We look forward to continued success under Coach’s guidance.”

Follow reporter Kelly Lyell at twitter.com/KellyLyell and facebook.com/KellyLyell.news.