Michigan State signs Izzo to new deal worth $6.2M annually

Michigan State signed legendary head coach Tom Izzo to a new five-year rollover contract that will pay him approximately $6.2 million per season, school vice president and director of athletics Alan Haller announced Thursday.

Izzo's deal needs formal approval from the Spartans' board of trustees when it meets in September.

"Michigan State has been a home to me and my family for 40 years, and I'm ecstatic to sign this contract," Izzo said in a statement. "It means a great deal to me that the board of trustees, president (Samuel L.) Stanley, Alan Haller, and the university continue to have the confidence in our program as we strive to be not only the best men's basketball team in the country, but to play a role in helping every program in the department achieve success."

Izzo took over for Jud Heathcote following the latter's retirement in 1995. The Spartans have been one of the nation's top programs under Izzo, reaching eight Final Fours and capturing six Big Ten Tournament titles.

He's never posted a losing season during his 27-year tenure with Michigan State. The Hall of Famer guided the Spartans to their second national championship in 2000.

Izzo's 666 career wins are the most in school history. Last March, he passed Bob Knight for the most victories at a Big Ten school.