Indiana University released its Memorandum of Understanding for men’s basketball head coach Darian DeVries, who the program hired March 19.
DeVries officially signed a six-year contract with an annual base salary of $550,000 and an annual supplementary income — outside, marketing and promotional income — starting at $3.7 million. DeVries’ supplementary income increases by $100,000 each season. During the 2025-26 season, he’s set to make $4.25 million, a number that will subsequently increase by $100,000 as his contract advances.
The 49-year-old DeVries is under contract through the end of the 2030-31 season.
DeVries has several incentives in his new contract, featuring $125,000 if the Hoosiers win the Big Ten regular season title outright, $25,000 if Indiana makes the NCAA Tournament, $250,000 if the Cream and Crimson win the NCAA Championship and $50,000 apiece if he wins Big Ten or any national coach of the year awards. DeVries earns additional bonuses each round further the Hoosiers advance in March Madness.
The same bonus terms were included in previous head coach Mike Woodson’s contract. Woodson’s annual supplementary income was $3.65 million, and his base salary was the same as DeVries.
Indiana agreed to pay DeVries’ buyout at West Virginia University, which totaled $6.15 million, according to ESPN. The Hoosiers also gave DeVries $25,000 for moving expenses in addition to a $50,000 signing bonus to help the relocation process.
If DeVries resigns or is fired for cause, the university will not be liable for any compensation or benefits past the date of his departure. Should the Hoosiers fire DeVries without cause — such as performance-related reasons — he will receive 80% of his base salary and supplemental income through March 31, 2031, the contract’s expiration date.
In the event he resigns before his deal expires, DeVries owes the university significant financial compensation. If he leaves before March 15, 2026, DeVries must pay $10 million. The number decreases to $8 million if he exits before March 15, 2027, then $6 million if he resigns before March 15, 2028.
DeVries’ contract includes benefits such as season tickets to IU Athletics competitions, unlimited family use of the Pfau Course and a license to operate an independently owned boys’ basketball camp.
Follow reporters Daniel Flick (@ByDanielFlick) and Quinn Richards (@Quinn_richa) and columnist Mateo Fuentes-Rohwer (@mateo_frohwer) for updates throughout the Indiana men’s basketball offseason.
