The University of Kentucky says it has given men's basketball coach John Calipari an eight-year contract worth a total of $36.5 million and the chance to earn up to $850,000 more a year in incentives.

The university made the announcement Monday in a news release.

Calipari led the Wildcats to the Final Four last season for the first time in 13 years. In his first two seasons as coach, the Wildcats have gone 64-12.

Mitch Barnhart, UK's director of athletics, in a release called Calipari's job performance, in his words, "magical."