Cincinnati's Mick Cronin: Signs a new 7-year, $2.2 million a year deal (approved by board of trustees, he says).
— Andy Katz (@ESPNAndyKatz) June 23, 2014
This new contract will presumably replace the old one, and keep Cronin in Cincinnati until 2021. His old deal was extended last April and would have carried through until 2018. The 2.2 million dollar figure is a raise of just under a million dollars a year and put him fairly comfortably among the 20 highest paid coaches in the country. Its a difficult proposition to argue that he doesn't deserve it.
What we don't know at this point, and probably won't know for a couple weeks is how this contract changes his budget. Mick hasn't exactly been shy about wanting more money for recruiting and his assistants among other things. Then there is his (reasonable) demands that UC doe something about the arena situation in the near term. That information will come, along with his buyouts and bonus structure, but not for a while. The contract will go to the board later today for approval, but that is seen as a formality.
Regardless this is a great day to be a Bearcat.