Texas, Rick Barnes officially part ways
A day after reports surfaced that UT men's basketball coach Rick Barnes wouldn't be returning for an 18th season in Austin, the school made the move official Sunday morning.
According to a release from the university, Barnes and UT "have mutually agreed to part ways" after 17 seasons that saw him amass a record of 402-180 while guiding the Longhorns to five Sweet 16s, three Elite 8s and one Final Four, all from 2002-08.
Barnes' recent teams, however, haven't come close to reaching those heights, as UT was regularly bounced from the NCAA Tournament by the first weekend, including this season's opening-game loss to Butler. Just two seasons ago, the Longhorns missed the Tournament all together and were one-and-done in the College Basketball Invitational, losing to Houston at home.
While details regarding financial compensation were not immediately available, the 60-year-old Barnes had four years remaining on his contract, with an annual salary of $2.55 million. His deal does include a $1.75 million buyout should he be fired this month, and that amount would have dropped to $1.5 million had UT waited to make the announcement official on Wednesday.
Read more: http://www.chron.com/sports/longhorns/article/Texas-Rick-Barnes-officially-part-ways-6166332.php
