Florida extends coach Billy Donovan through 2020

Billy Donovan will be Florida's head coach through the 2020 season.

The Gators signed Donovan to a contract that will increase his average salary to just over $4 million, according to contract details obtained by Kevin Brockway of the Gainesville Sun as part of an open records request.

The new terms will see him earn $3.9 million next season, and then hold at $4 million per season for the duration of the contract. While his base salary will remain at $220,000, most of his salary will come from television and appearances.

Donovan's bonus structure hasn't changed, and still depends on how well the team does. The head coach, who has a 467-186 record at Florida, will receive $50,000 for an SEC regular season title, $25,000 for an SEC Tournament victory and $37,500 for reaching the NCAA tournament, with additional bonuses for deep tournament runs.

Donovan is the fifth-highest-paid coach in college basketball with an average of $4.067 million, behind Duke’s Mike Krzyzewski ($9.6 million), Kentucky’s John Calipari ($7.5 million), Louisville’s Rick Pitino ($5.8 million) and Kansas’ Bill Self ($4.96 million).

Florida finished 16-17 this past season, and missed the NCAA tournament for the first time since 2009.

With the new contract coming with a small buyout of $500,000, Donovan may reportedly be considering making the jump to coaching in the NBA.