New Dusty May Michigan basketball contract includes raise, NIL investment

Posted by author February 22, 2025 Basketball

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Dusty May’s new contract with Michigan basketball adds a year to the original five-year deal he signed last season.
May is set to make $4.65 million next season, a raise of nearly $1 million from the average value of his original deal.
The new deal also increases the salary pool for assistants and money set aside for NIL money.

Newly extended Michigan basketball coach Dusty May has a million reasons to stay in Ann Arbor.

While the final contract between May and U-M basketball has still not been signed, the terms are in place for May to receive nearly $1 million more per year, according to an individual with knowledge of the matter but not yet permitted to speak publicly about it.

May will receive a five-year deal — that’s a one-year extension on the contract he signed when he became the U-M head coach in March 2024 — which will run through the 2030 season.

If finalized as expected, May would make $4,650,000 as a base salary next season and receive a $100,000 raise every season over the five years. His yearly salary will top $5 million in the final season. His contract signed last March provided an average annual salary of $3.75 million. May’s buyout, which was $5 million in his first season and was set to decrease with each successive season, has been raised to $7.5 million.

May, an Indiana alumnus who began his coaching career under iconic IU coach Bob Knight, surfaced as a candidate for the impending opening at IU when embattled Hoosiers coach Mike Woodson announced he would not return following this season. U-M played Indiana the next day, and won 70-67, before May dismissed any interest in the job postgame.

Still, there was lingering concern in the ether that May could be poached, and Michigan made sure that wasn’t going to happen. Though that did create urgency, the Free Press was told directly that Michigan brass actually began discussing a potential contract extension and raise for May on Feb. 4, prior to Woodson’s announcement at IU.

After some discussion, U-M’s athletic department and athletic director Warde Manuel offered May the extension on Feb. 14. May accepted the offer one week later.

Included in the expected terms is a raise for the assistant staff pool and notable investment on the NIL front in terms of revenue sharing.

The NCAA’s revenue sharing plan will allow schools to share up to $20.5 million annually with student-athletes. According to a person with knowledge of the contract, the expectation is that somewhere between 10-20% of the budget has been set aside for the men’s hoops program — at least $2 million and as much as $4 million annually.

May has created an immediate turnaround in a program that cratered to a 8-24 record last season, the worst finish in program history. The No. 12 Wolverines (20-5, 12-2 Big Ten) entered Friday riding a six-game winning streak before facing Michigan State on Friday night in a battle for the Big Ten lead. U-M led 38-34 at the half.

Tony Garcia is the Michigan Wolverines beat writer for the Detroit Free Press. Email him at apgarcia@freepress.com and follow him on X at @RealTonyGarcia.