The Purdue Boilermakers have extended the contract of coach Matt Painter by two years through the 2023-24 season, it was announced Friday.
Painter, who has coached the Boilermakers for 13 seasons, could stay in the fold even longer as his contract will convert to a rolling five-year deal via automatic one-year extensions July 1, 2019.
"Matt Painter is a proven winner, and he wins with integrity," Purdue athletic director Mike Bobinski said in a statement. "He has built a program that makes Boilermaker fans proud and embodies the very best of college athletics. Matt's priorities and approach align perfectly with our values at Purdue and are evidenced by the success his players achieve on the court and in the classroom. We are excited for the future of Purdue men's basketball under Matt's continued leadership."
The 48-year-old Painter, who is third on the school's all-time wins list, has a 295-149 record at Purdue and has made 10 NCAA tournament appearances. He also has won two Big Ten regular-season titles and one conference tournament title.
His salary increases to approximately $2.8 million, according to a statement read at the school's board meeting Friday.
In July 2016, Painter signed an extension that included a salary of $3 million in 2019-20, $3.1 million in 2020-21 and $3.2 million in 2021-22. The new agreement would raise his salary by $25,000 in each additional year beyond 2021-22.
"It is an honor, and I am extremely happy and proud to be the head coach at my alma mater," Painter said in a statement. "Purdue is a special place, and the commitment to the basketball program is apparent. I am equally appreciative of the commitment to me, and I am committed to this program, our players, our fans and this great institution. We will keep working to reach all of our goals on and off the court."
According to USA Today's coaching salary database, Painter's compensation of $2,478,795 in 2017-18 ranked 25th nationally and seventh among Big Ten coaches.
ESPN's Adam Rittenberg contributed to this report.