BATON ROUGE - LSU basketball head coach Will Wade has signed a seven-year deal to return to the Tigers, where he coached from 2017 to 2022 before he was fired.

The term sheet says Wade would report to newly-hired LSU Senior Deputy Athletics Director Heath Schroyer.

The seven-year deal stretches from March 26, 2026, through March 31, 2033. His base salary is $400,000 annually, with supplemental compensation of $3.6 million annually that escalates each year, reaching $4.1 million annually for April 1, 2031, until March 31, 2033.

If Wade is fired without cause, LSU would owe 75% of the remaining base and supplemental compensation for the unexpired term, paid in installments.

If he is fired for cause, as he was in 2022, LSU would owe him no money from the date he is fired. The term sheet does allow Wade a seven-day period to "cure any default or breach in a timely manner," as long as LSU deems the offense reconcilable. 

The term sheet also covers the event in which Wade leaves LSU for another job. Wade would owe LSU liquidated damages on a declining scale, starting at $5 million if he departs on or before April 1, 2027, and dropping to $0 if he leaves after April 2, 2032.

Wade's contract includes several performance-based incentives. If he leads the Tigers to an SEC regular season title (or shared title), he will make $50,000. He would earn the same payout if LSU wins the SEC tournament. 

Wade can also receive NCAA Tournament incentives of up to $900,000 per year. A March Madness appearance would earn him $50,000, $100,000 for making the Round of 32, $150,000 for making the Sweet 16, $300,000 for making the Final Four and $500,000 for making the national championship. 

A national championship win would come with an $800,000 bonus for Wade. 

Additionally, he can receive up to $150,000 in coaching award incentives:
- $50,000 for being named SEC Coach of the Year
- $100,000 for being named National Coach of the Year by the Associated Press, the National Association of Basketball Coaches or the Naismith Awards

Wade also receives standard benefits for LSU unclassified professional employees, excluding annual leave, as well as relocation assistance, temporary housing, a courtesy vehicle or stipend and club membership. LSU is also covering Wade's buyout and possible liquidated damages from him leaving his previous job, with provisions addressing potential tax treatment.

The agreement is contingent on a background check and approval from the LSU Board of Supervisors.