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The proposed contract, which the ÃÛèÖÖ±²¥ Board of Regents is scheduled to discuss in a closed-door session on Thursday, April 10, before voting on it later that day, offers Lloyd an extra year in 2029-30 with a 4.5% pay bump from the previous season while noting that UA “agrees to work togetherâ€� with Lloyd on setting budgets for revenue sharing and other player compensation.

Schools are expected to pay players up to $20.5 million in revenue sharing starting next season as part of a settlement to three antitrust lawsuits. Power-conference teams are expected to pay the entire amount, but each school can decide how much to allot to any one sport.

The co-founder of NIL advisory firm Opendorse, Blake Lawrence, said during a seminar Friday at the Final Four that Big 12 teams are budgeting an average $4.3 million in revenue sharing toward men’s basketball, or 21% of the $20.5 million maximum.

The proposal for Lloyd says UA intends to keep the men’s basketball program “competitive within the upper end� of the Big 12 and other power-conference public schools, suggesting the school would aim to allocate at least 21% to men’s basketball.

ÃÛèÖÖ±²¥â€™s proposal says UA and Lloyd would establish a budget each year that will be set by Feb. 15 for the following season, with outside NIL funds possibly also factored in. As of now, athletes do not receive revenue-sharing money from schools but can receive them from booster-funded collectives and outside NIL endorsements.

“U of A agrees to support the program so that it remains competitive nationally,� the proposal said. “Each budget shall include amounts regarding revenue share and other related monetary amounts not counting toward the revenue share cap.�

The proposal does not change the trajectory of Lloyd’s own school-paid compensation package, though it does add the additional year in 2029-30 for a total of $5.85 million in school-paid compensation, a 4.5% raise from 2028-29.

This season, Lloyd is being paid $4.85 million in university funds, including $700,000 for additional promotional duties. He also is receiving $200,000 each from Nike and ÃÛèÖÖ±²¥ Sports Enterprises (radio), for a total guaranteed package of $5.25 million.

That total number is scheduled to jump to $5.5 million next season and in 2026-27, while he will receive $5.75 million in 2027-28, and $6.0 million in 2028-29, counting the school-paid additional duties money and the Nike/radio deals.

The new proposal also says that a previously contracted $2 million retention bonus for Lloyd if he remains until April 1, 2028, will be owed to Lloyd even if UA fires him before then — but says that the payment in that case would be subject to mitigation if Lloyd took another job in basketball.

UA said donor funds have been secured to fund the retention bonus, and last year said donor funds had also been secured to fully cover the increase of Lloyd’s university-paid compensation throughout the term of that deal, a total of about $5.8 million more over five years compared to what Lloyd would have been paid under his previous contract.

If the latest contract is approved, it would be the fourth time Lloyd’s package has been altered since he was hired four years ago.

Lloyd was initially given a five-year deal through 2026-27, starting with school-paid compensation of $2.5 million in 2021-22 with $100,000 annual salary escalators. But in June 2022, he was given $1 million extra for every year on his contract after guiding the Wildcats to a No. 1 NCAA Tournament seed in 2021-22, while a fifth season was added for 2026-27.

Last spring, Lloyd was given a contract to carry him through 2028-29 that bumped his university-paid package from $3.8 million to $4.85 million this season.

The latest proposed deal, formally called the “third amended multiple-year employment contract for men’s basketball coach (U of A),� also allows Lloyd to offer up to three assistant coaches guaranteed three-year contracts, while previously they had only been for one or two years.

In addition, the proposal says UA will consult with Lloyd and basketball staffers “on their recommendations for basketball facilities improvements� while assessing them.

All academic and performance incentives remain unchanged from the contract Lloyd signed last year, though terms of Lloyd’s buyout were slightly reduced. While he was liable for a $12 million buyout if he chose to leave UA this season, the first in his current contract, he will only have to pay $11 million if he leaves next season, the first of the new contract.

In addition, Lloyd’s buyout in the second season remains $9 million but drops from $6.25 million to $6 million in year three, and from $3.25 million to $3 million in year four. The fifth and final year of both contracts have no coach buyout amount.

In making its proposal to the Board of Regents, UA cited Lloyd’s 112 wins and three Sweet 16 appearances over his first four seasons, while saying he exceeded expectations within the Big 12 this season. UA was picked to finish fifth but finished in a tie for third place and reached the conference tournament’s championship game.

“Lloyd has continued his transformation of the University of ÃÛèÖÖ±²¥â€™s men’s basketball program into one of the top programs in the nation,â€� UA’s proposal said.