RALEIGH, N.C. (WNCN) – North Carolina State University has released the contract details for new men’s basketball coach Will Wade, who was officially hired in late March.
According to the contract agreement, Wade signed a six-year deal that runs through March 2031. He’s set to make $2.5 million in his first season as the leader of the Wolfpack.
His contract is set to increase $150,000 annually over the next six years, topping at $3.25 million during the 2030-31 season.
If the 42-year-old coach buys out of his contract before April 1, 2026, he would owe the university $5 million, but that number lowers to $3 million in 2027, $2 million in 2028 and $1 million in 2029, according to the contract.
He’s also eligible for bonuses up to $1.7 million per year. On the condition he leads N.C. State to an Atlantic Coast Conference regular season or tournament championship, Wade will earn $100,000 or $200,000 in total for winning both. He would also receive extra incentives over the course of a deep run through March Madness, such as a $1 million bonus for winning an NCAA championship.
Other perks of the deal include two courtesy cars and an allowance of $7,500 for each vehicle, as well as tickets to games at the Lenovo Center, the ACC Tournament, the Final Four, as well as eight tickets for N.C. State home football games.
The terms of the contract also states that N.C. State will pay $1 million to McNeese State as part of Wade’s buyout.
You can read the full details of Wade’s contract below: