Aug 19, 2008 - 12:58 PM
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The deal has a base salary of $600,000 and includes more than $15.7 million in marketing and promotional income.
Crean initially agreed to an eight-year deal when he was hired by Indiana in early April. But the school announced last month that it planned to extend Crean's contract by two years.
If Crean leaves Indiana, he would owe the school $3 million after the first three years of the agreement, $2 million after the next two years and $1 million over the final five years.
The deal also has a clause that permits Indiana to fire Crean if he or a member of his coaching staff violates NCAA rules.
"It is very easy to sell the tradition that is Indiana basketball knowing that we are committed to IU for a long time and that the University believes in what we are trying to accomplish," Crean said. "I'm especially grateful for the way Rick Greenspan, former players, supporters and the entire Hoosier Nation have made my family feel welcome and helped us during this transition."
Crean, 42, has inherited a messy situation with the Hoosiers, who are reeling from a tumultuous season ravaged by scandal and disappointment.
Due NCAA violations, former Hoosiers coach Kelvin Sampson resigned in embarrassing fashion on February 22.
Sampson was cited by the NCAA for five major violations, including the non-observance of restrictions that were imposed on the Hoosiers because of his previous infractions while at Oklahoma.
A preseason contender for the Big Ten Conference title, Indiana went 25-8 this past season, posting a 14-4 mark in conference play.
But the Hoosiers sputtered down the stretch under interim coach Dan Dakich, losing four of their last five contests - including a defeat to Arkansas in the first round of the NCAA Tournament.
Crean compiled a 190-96 record at Marquette and guided the Golden Eagles to eight postseason appearances, including a Final Four berth in 2003.
This past season, Crean coached Marquette to a 25-10 record, which included an overtime defeat to Stanford in the second round of the NCAA Tournament.
Prior to taking his post at Marquette, Crean served as an assistant under Michigan State head coach Tom Izzo from 1995-99.
