Contract extension, salary increase for Purdue's Katie Gearlds “We didn’t want her to have any doubts about where we stand"

The school's women's basketball coach is signed through the 2028-29 season

In an expression of confidence with the direction of the program, Purdue women’s basketball coach Katie Gearlds was awarded a contract extension and a salary increase by the school’s board of trustees on Friday.

Coming off a 15-19 season, which finished with an appearance in the WNIT, athletic director Mike Bobinski told the board: “We didn’t want her to have any doubts about where we stand.”

Gearlds, a former Boilermaker All-American, completed her third season and has a 51-45 record. Her teams have played in three straight postseason events, including NCAA tournament’s play-in game following the 2022-23 season.

Gearlds took over the program following the sudden retirement of Sharon Versyp, who left less than two weeks before the start of the 2021-22 season. The transition continues as Gearlds hired new assistants and is committed to using high school recruiting as the foundation for the future but is also leaning on the transfer portal to fill immediate needs.

“This is about showing confidence in her leadership and our belief in her ability to really build a first-class, highly successful program,” Bobinski told the board. “She’s a really talented young coach and is still working through turning the roster over.”

Details of Gearlds’ contract:

Katie Gearlds will guide the program through the 2028-29 season (Chad Krockover Photography)

• The two-year extension takes Gearlds’ contract through the 2028-29 season.

• Approved contract starts July 1, 2024.

• Base salary for the 2024-25 season is $700,000, an increase from $550,000 last season.

• Gearlds’ future base salary: $720,000 (2025-26), $740,000 (2026-27), $760,000 (2027-28) and $780,000 (2028-29).

• Incentives (Top 5 finish in Big Ten, conference tournament championship, NCAA appearances, coach of the year awards, etc.) included in Gearlds’ original contract remain unchanged.

• Gearlds is still scheduled to receive a $150,000 retention bonus if she’s Purdue’s head coach on April 30, 2026. The bonus was part of her original contract and will increase Gearlds’ guaranteed compensation to $870,000 during the 2025-26 season.

• Here’s what Purdue would owe Gearlds if the school fired her without cause:

$2 million (July 1, 2024 through June 30, 2025).

$1.6 million (July 1, 2025 through June 30, 2026)

$1.2 million (July 1, 2026 through June 30, 2027)

$1 million (July 1, 2027 through June 30, 2028)

For 2028-29, remaining months at $50,000 per month.

• Here’s what Gearlds would owe Purdue if she left before the end of her contract:

$750,000 (July 1, 2024 through June 30, 2025).

$500,000 (July 1, 2025 through June 30, 2026).

$375,000 (July 1, 2026 through June 30, 2027).

$250,000 (July 1, 2027 through June 30, 2028).

$125,000 (July 1, 2028 through end of 2028-29 season)

In case you’re curious, Purdue also approved Matt Painter's compensation (base salary, retirement contribution, life insurance premium advance, retention bonus) for the next five years. Note: Painter has a rolling five-year contract.

24-25: $4.85 million

25-26: $4.97 million

26-27: $5.175 million

27-28: $5.2 million

28-29: $5.225 million