By Braden Keith on SwimSwam
A week after University of Tennessee swimmer Mona McSharry became just the second Irish swimmer to ever win an Olympic medal in swimming, her coach Matt Kredich received a raise and a contract extension.
He received a $10,000 raise (3.8%) and an extension through the 2028-2029 season.
This is the fourth-straight offseason in which Kredich has received a contract extension. In the first year of his current contract, Kredich’s base pay was $207,000 and due to increase to $217,000 thereafter. In 2020, that $217,000 base rate was extended for two years, in 2021 the agreement made a significant leap to $250,000 per year in base pay (beginning in 2022), a year later his base pay was bumped to $260,000, and starting next season, he is owed $270,000 per season for at least the next five seasons, until April 30, 2029.
That increase in base pay also increases the bonuses that are available to Kredich. While most NCAA coaching contracts include absolute value bonuses, Kredich’s most recent new contract, from June 2019, affixes most bonuses as a percentage of base pay – meaning that those increase with his salary without having to update that section of the agreement specifically.
Bonus Structure:
| Achievement | Note | Bonus % | 2022 Extension | 2023 Extension | 2024 Extension |
| Top 5 Finish at NCAAs (Men) | Only 1 paid out | 12.00% | $30,000 | $31,200 | $32,400 |
| Top 5 Finish at NCAAs (Women) | Only 1 paid out | 12.00% | $30,000 | $31,200 | $32,400 |
| Top 10 Finish at NCAAs (Men) | Only 1 paid out | 8.33% | $20,825 | $21,658 | $22,491 |
| Top 10 Finish at NCAAs (Women) | Only 1 paid out | 8.33% | $20,825 | $21,658 | $22,491 |
| Top 15 Finish at NCAAs (Men) | Only 1 paid out | 6.00% | $15,000 | $15,600 | $16,200 |
| Top 15 Finish at NCAAs (Women) | Only 1 paid out | 6.00% | $15,000 | $15,600 | $16,200 |
| Six Athletes Competing at NCAAs (Men) | Only 1 paid out | 4.00% | $10,000 | $10,400 | $10,800 |
| Six Athletes Competing at NCAAs (Women) | Only 1 paid out | 6.00% | $15,000 | $15,600 | $16,200 |
|
Winning the SEC Championship (Men)
|
4.00% | $10,000 | $10,400 | $10,800 | |
|
Winning the SEC Championship (Women)
|
4.00% | $10,000 | $10,400 | $10,800 | |
|
Winning the NCAA Championship (Men)
|
4.00% | $10,000 | $10,400 | $10,800 | |
|
Winning the NCAA Championship (Women)
|
4.00% | $10,000 | $10,400 | $10,800 | |
|
SEC Coach of the Year
|
(Flat) | $2,500 | $2,500 | $2,500 | |
|
National Coach of the Year – CSCAA or SwimSwam
|
(Flat) | $5,000 | $5,000 | $5,000 |
McSharry was one of six University of Tennessee athletes to medal at the Paris Olympic Games. Also among them was post-grad swimmer Erika Connolly, who became the first female swimmer in program history to win three Olympic medals, joining SwimSwam co-founder Mel Stewart as the only Volunteer swimmers in that category.
The Tennessee women finished 2nd at last year’s SEC Championship meet and the men finished 5th a season after placing 2nd and 3rd, respectively.
At NCAAs, the Volunteer women finished 4th and the men finished 6th, both of which were improvements from a year prior (8th/7th). That 4th place finish earned Kredich the maximum NCAA Championship performance bonus under the terms of the contract of $31,200.
Kredich, 58, has been the head coach of the Tennessee women’s program since April 30, 2005, and took over the men’s program as well on April 12, 2012.
Read the full story on SwimSwam: Tennessee Head Coach Matt Kredich Receives Contract Extension, $10,000 Raise