The University of Utah will pay new Runnin’ Utes head coach Alex Jensen at least $3.6 million next season with an opportunity for another $750,000 in bonuses.
Jensen’s contract runs from March 17, 2025, to March 31, 2031.
The Salt Lake Tribune obtained a copy of the employment agreement through a public records request.
The university is set to pay Utah’s new head coach a base salary of $300,000 each season. Alongside that, Utah will pay Jensen $2,500,000 per year for attending appearances, fundraising activities and public speaking events. After April 1, 2026 — and each year after — Jensen will receive a raise of $100,000 in addition to the base amount of $2.5 million.
The Runnin’ Utes head coach will also have an incentive-based bonus that maxes out at $750,000 per season.
Utah’s head coach is also eligible for another a pair of $400,000 annual payments under Utah’s Under Armour outfitter agreement and multi-media rights deal with JMI Sports, totaling out to $800,000 a season.
Jensen’s base compensation would make him the eighth-highest-paid coach in the Big 12.
But his annual salary with Utah could max out at $4,350,000.
A “transition period” with Dallas Mavericks
While Jensen signed his deal with the Runnin’ Utes this month, he will continue his assistant coaching duties with the Dallas Mavericks until the end of the 2024-25 season and no later than June 30, 2025, according to his contract.
During that period, “Coach Jensen shall be employed both by Mavericks and by the University of Utah.” And, since Jensen will not be able to devote his full attention to his new head coaching position, the university has agreed to deduct his pay by 75% until his Mavericks’ contract is terminated.
(Francisco Kjolseth | The Salt Lake Tribune) A new era at the University of Utah begins as former Ute player Alex Jensen is formally introduced as new head coach of the Utah men’s basketball team at the Huntsman Center on Monday, March 17, 2025.
He will also not be required to devote more than 10 hours per week to his university obligations until the remainder of his contract with Dallas.
Jensen has already made headway by hiring assistant coach Raphael Chillious, who was formerly with the Memphis Grizzlies. The Utes are also reportedly working on a deal to hire Wes Wilcox, currently an assistant general manager with the Sacramento Kings, to Jensen’s staff to lead recruiting efforts in the meantime.
Other incentives
• The university will provide Jensen with 12 Utah men’s basketball season tickets. He will also be provided with six season tickets to all of Utah football’s home games at Rice-Eccles Stadium.
• The university will provide Jensen with 7,000 Under Armour VIP points.
• Jensen will be provided with a car (or a $600 a month allowance) and a smartphone.
• The U. will give Jensen up to 7% of his overall compensation for moving expenses.
Subscribe To The TribUte Newsletter
Get the latest news by subscribing to our The TribUte newsletter. Enter your email below.
Note to readers • This story is available to Salt Lake Tribune subscribers only. Thank you for supporting local journalism.
