Last week Tod Kowalczyk vowed to return for his fifth season as University of Toledo’s basketball coach. On Tuesday, the university all but assured he’ll be back.
Kowalczyk signed on for two more years, stretching the end date of his contract through the end of the 2020-2021 season, which would be his 11th should he stick around that long.
This marks the third offseason in a row Kowalczyk and Toledo agreed to a two-year extension and the first sweetened by a pay raise. His annual base salary increases by $45,000 to $325,000. Coupled with a marketing compensation of $90,000, Kowalczyk can expect to bring in $415,000 next season before bonuses. The marketing compensation, given to Kowalczyk for media spots and public appearances, increases by $15,000 each year.
“I’m very, very thankful to [university president] Dr. Lloyd Jacobs and [athletic director] Mike O’Brien for the commitment level they’ve given our program and to me and my family,” Kowalczyk said. “We’re certainly excited about the future.”
The amended deal is a reward for Kowalczyk authoring one of the most successful seasons in program history. His Rockets established a record 27 wins and captured a share of the Mid-American Conference title, the program’s eighth. He is 61-37 overall since suffering a 4-28 mark in his first season in 2010-11.
Kowalczyk’s name had been linked in passing with the opening at Boston College. Marquette seemed to be a possibility as well prior to Tuesday, when the school hired Duke assistant Steve Wojciechowski.
Unchanged in Kowalczyk’s contract is the buyout agreement. He must pay $175,000 if he leaves on or before March 15 of next year. He owes the university nothing if he leaves after that date.