LEXINGTON, KY. ? Tubby Smith signed an eight-year contract extension Friday that would pay him $20.25 million if he coaches Kentucky through the 2010-11 season.

His base salary will be $200,000 a year, but bonuses, apparel endorsement and television and radio deals add millions. And if the Wildcats reach the Final Four during the rest of his tenure, the contract will be extended by two years at an additional $5 million.

Smith led Kentucky to the 1998 NCAA championship.

“We wanted to stay in the forefront and stay ahead in college basketball,” Smith said. “We have the No. 1 program in college basketball, and we want to keep it that way.”

Smith will get $1.55 million for endorsements and appearances in the first year of the contract. That figure will gradually rise to $2.175 million for 2010-11.

After four years, Smith would receive a bonus of $1.5 million, and after eight years, he would receive a similar bonus of $2.5 million.

The contract’s incentives include bonus pay for on-court and academic excellence by his players. The contract does not include a buyout clause, Kentucky athletic director Mitch Barnhart said.