Billy Donovan inks contract extension

Two-time national championship winning coach Billy Donovan will be around the University of Florida at least a few years longer, if his latest contract is any indication.

Donovan signed a contract extension that will keep him at Florida through the 2015-16 season. According to the university, the deal is for the same financial terms as his current contract, which pays him about $3.5 million annually with incentives.

“Billy Donovan has built one of the elite programs in the country at the University of Florida, he and his family have given 16 incredible years to this institution and community,” athletics director Jeremy Foley said in a release. “His accomplishments speak for themselves, but he’s also achieved success with integrity, character and loyalty. We’re thrilled that he will continue to lead our program for years to come.”

Donovan and Foley had been working on a contract for at least the past month or so, as it was a popular topic during preseason camp.

The Florida coach is in his 16th year with the Gators and has compiled a 367-149 record while in charge.

He has led the program to two national titles and brought Florida to the NCAA Elite Eight last season after struggling for a few years following the back-to-back championships in 2006 and 2007.

Florida is No. 13 in the nation at 7-2, with each of its losses coming to teams ranked in the Top 5 nationally when the games were played.

According to an October 2008 report by the Orlando Sentinel, Donovan’s contract includes incentives for becoming the AP National Coach of the Year ($50,000), advancing to the Final Four ($100,000) and winning the national championship ($150,000).

Donovan credits much of his success at Florida to athletics director Jeremy Foley.

“I think in this day and age in coaching, it’s very, very rare that you stay at a job, and this is the start of my 16th year, and you still have the same athletic director in place,” Donovan said in October. “And I think it’s been our relationship that’s made this job and this opportunity of being here so special is my relationship with him.”