New Contract Makes NC State's Mark Gottfried Third-Highest Paid Coach In ACC

CHAPEL HILL, NC - JANUARY 26: Coach Mark Gottfried of the North Carolina State Wolfpack watches his team during a loss to the North Carolina Tar Heels at the Dean Smith Center on January 26, 2012 in Chapel Hill, North Carolina. North Carolina won 74-55. (Photo by Grant Halverson/Getty Images)

NC State basketball coach Mark Goffried received a new contract on Friday, which will make him the third highest paid coach in the ACC.

North Carolina State and Mark Gottfried have agreed to a new six-year contract, according to Sports Illustrated. The new contract will make Gottfried the third-highest paid coach in the ACC, at $1.95 million a year. The contract runs through the 2017-2018 season.

Gottfried automatically earned a two year extension by virtue of the Wolfpack's NCAA tournament appearance in 2012. His salary remains at $750,000, but his supplemental compensation will rise from $450,000 to $1.2 million.

The Wolfpack won 24 games in 2011, Goffried's first season in Raleigh. They also made it to their first NCAA Tournament Sweet Sixteen since 2005. NC State athletic director Debbie Yow spoke glowingly of Gottfried:

Athletic director Debbie Yow says Gottfried's "competitive and recruiting success has accelerated our vision of excellence in an impressive way."

For more on NC State basketball, check out Backing The Pack. And for news on all of college basketball, don't forget to check out SB Nation's college basketball hub.

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