The University of Colorado Board of Regents approved a new three-year contract extension for Men's Basketball Coach Ricardo Patton during their regular meeting Thursday, Sept. 18, in Denver. Patton's current contract, scheduled to end June 30, 2004, was extended to June 30, 2007.
"We are pleased to secure Coach Patton's leadership of our men's basketball program for another three years and look forward to his continuing successes, both on the court and in mentoring our student-athletes," said CU-Boulder Chancellor Richard L. Byyny. "Coach Patton's commitment to integrity and his coaching skills represent a winning combination for us and our student-athletes. This contract extension underscores our confidence in and appreciation of his leadership abilities."
Patton, 45, is beginning his eighth full season with Colorado and was named interim head coach during the remainder of the 1995-96 season after then-head coach Joe Harrington resigned midway through the season. Patton was named head coach on a permanent basis March 5, 1996.
Athletic Director Richard Tharp said, "I am pleased that Ricardo's extension has been approved. He has continued to conduct the CU basketball program with integrity and the right sense of values - and his students are graduating. The success of last season, including an invitation to the NCAA tournament, is a tribute to hard work and doing things the right way. CU is fortunate to be able to retain Coach Patton."
Colorado statutes allow each campus of higher education to enter into multi-year employment contracts with not more than six employees, if the governing board determines the contract is necessary in light of prevailing market conditions and competitive employment practices.
Under the contract extension, Patton's base salary for fiscal year 2004-05 will be $153,250. Additional compensation will include an automobile allowance of $7,200, $117,395 per year for television and radio appearances, $28,800 supplemental salary for promotions and fundraising, $129,550 per year NIKE allowance, $150,000 per year as deferred compensation and various performance incentives. The deferred compensation will be credited to an account at the CU Foundation.
Under a separate agreement, CU will continue to contract with Ricardo Patton Basketball Camp, LLC, to conduct at least two basketball camps per year. The camp fee for summer 2005 will be $102,058.
Patton has led CU to a pair of NCAA Tournament (2002-03, 1996-97) and NIT berths (1999-2000, 1998-99) during his seven full seasons with the Buffs, including a pair of 20-win seasons. Patton currently ranks third all-time in school history with 125 career victories and was the only coach last season to defeat both Final Four participants Kansas and Texas. The Nashville, Tenn., native is the only CU coach to win 20 games twice in a single season and coached four of CU's nine 18-plus winning seasons.
"I am glad that we came to agreement before the season, so that all of our efforts can focus on continuing to build a successful program at the University of Colorado," said Patton.
OTHER PATTON NOTES:
* Enters the 2003-04 season with a 12-game home winning streak
* First-ever undefeated 8-0 mark in the Big 12 Conference
* One of 22 schools nationally unbeaten at home in conference play
* 14 home wins last year are the most in CU history
* Three players named Phillips 66/Big 12 Players of the Week, most of any CU season
* Victory over No. 3 Texas (Feb. 4, 2003) highest win over a ranked team in 11 years
* 2002-03 season: First time CU defeated four ranked teams (Kansas, Texas, Missouri, Oklahoma State) in the same year (in both polls)
* Highest home attendance average in 20 years (8,995)
* Summer 2000: led Big 12 All-Stars to 5-1 record against teams in Austria
* Basketball Times West Region Coach of the Year, 1996-97
* District 8 Coach of the Year, 1996-97