4:05 update: Tom Crean has spoken, and he has not said much. His statement, according to an e-mail, is:
“As soon as the long form contract is finished it will be released.Â To date, I am comfortable with the progress that is being made with finalizing the details of my contract and look forward to its completion.”
2:35 update: IU will release a statement from Tom Crean today regarding the report that he has agreed to a two-year extension that would give him a 10-year contract.
Crean is still in the process of negotiating his initial contract with IU and it appears he’s very close to completing that process.
2:15 update: IU trustee Phil Eskew just told us that he doesn’t know anything about an extension for Crean and would be surprised if one has been approved because university president Michael McRobbie has been in Australia. Eskew thinks McRobbie would need to be involved in such a decision.
This doesn’t mean that the report about Crean getting a two-year extension is incorrect, but if it’s true, it’s interesting that one of the trustees hasn’t been informed about an extension for IU’s highest-profile employee. That extension would likely cost more than $4.5 million, based on Crean’s initial memorandum of agreement for an average salary of $2.3 million for eight years (a total of $18.2 million).
We’ll provide further updates today on this report.
Indiana head coach Tom Crean has yet to sign a contract with Indiana, though talks have been ongoing.
According to the original memorandum of understanding he signed on April 1, he and athletic director Rick Greenspan were supposed to work out the details of the 8-year deal worth $2.3 million a year and make it official by May 15.
Since then, of course, Crean has realized how muddy the situation is at Indiana. And Greenspan has been bought out of his contract.
Now, the Indy Star is reporting that sources close to the situation are saying that Crean has already received a two-year extension.
We haven’t been able to confirm this yet, but we’re working on it. It seems likely that the addition of two years to the deal came up during the drafting of the final contract â€” either at the request of IU or Crean â€” and that an announcement of its finalization could come soon.