Virginia Commonwealth University basketball coach Anthony Grant said he's flattered, appreciative and humbled by a new contract that will make him one of the highest-paid coaches at a mid-major program.
He also said he won't get caught up in speculation about his future.
Grant Thursday agreed in principle to his second deal in as many seasons. Terms of the restructured contract were not announced by the university, but sources said it pays Grant $700,000 with an annuity of $100,000. Perks and performance bonuses could push Grant's compensation past $850,000.
The contract adds a year, taking it through the 2013-14 season.
"At some point, people will realize I'm extremely happy here," Grant said. "I'm happy with the people I work with. We're looking forward to building on the success we've had."
That success has made Grant, 42, a frequent inclusion on speculative lists of high-major schools seeking coaches. He has guided VCU to a 52-15 record, with two Colonial Athletic Association regular-season titles, a first-round upset of Duke in the 2007 NCAA tournament and a National Invitation Tournament bid.
Grant said he has had no serious involvement with other jobs since the season ended.
"I understand people want to speculate," he said. "When that gets started, you try to control what's real. For me to try to deal with that would be a waste of time.
"I don't really know what the future holds. I live in today. . . . With success comes speculation. To me, that means we're doing a lot of things right."
Seeking to put VCU on more competitive footing, VCU Athletic Director Norwood Teague approached Grant during the regular season about sweetening his deal.
Grant, hired in April, 2006 to succeed Jeff Capel, had his base salary increased from $275,000 to $400,000 after his first season, when he guided the Rams to a school-record 28 wins and was named CAA Coach of the Year.
"Coaches the caliber of Anthony Grant are rare," Teague said in a release. "We're glad to have him and we look forward to a long association with him."
Teague said the money for the contract comes from ticket sales, NCAA revenue sharing, sponsorships and alumni donations.
VCU President Eugene P. Trani said Grant "has had a significant positive impact on the entire university, not just athletics. We have tremendous confidence in what he will be able to do going forward."
Grant's new deal puts him the same neighborhood of mid-major coaches such as Creighton's Dana Altman ($1 million) and Southern Illinois' Chris Lowery ($750,000).
At the state's two high-major programs, Virginia coach Dave Leitao made about $970,000 this past season ; Virginia Tech's Seth Greenberg made $750,000. He will make $799,850 next season and $849,689 the following year.
"I'm the beneficiary of good people around me," Grant said. "Like any profession, it's good to know you're wanted."
Contact Tim Pearrell at (804) 649-6965 or tpearrell@timesdispatch.com.
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