Kentucky Wildcats coach John Calipari has agreed to a one-year extension worth $8 million, a source confirmed to ESPN's Andy Katz.
The extension locks in Calipari through the 2021-22 season, as he signed a seven-year deal prior to this season that previously would have kept him at Kentucky through 2021.
News of the extension was first reported by Kentucky Sports Radio.
Calipari signed a seven-year deal worth $52.5 million last June and is also set to earn a $1.6 million longevity bonus on July 1.
Calipari lost seven players from this year's team that went 38-1 and suffered its only loss in the Final Four to Wisconsin.
With nine McDonald's All-Americans on his team this past season, Calipari elected to platoon his 10-man rotation by having two separate five-man units. Despite the success, Calipari has said he won't employ the same technique this coming season.
Returning players Tyler Ulis, Marcus Lee and Alex Poythress will be joined by the No. 2-ranked recruiting class in the country. Heading to Lexington for this coming season are Skal Labissiere (No. 2 in the ESPN 100), Isaiah Briscoe (No. 13), Charles Matthews (No. 42) and junior college shooter Mychal Mulder.
Calipari, 56, was selected as AP's National Coach of the Year and elected to the Naismith Memorial Hall of Fame. He will be inducted in September. He has a 190-38 record at Kentucky.
Information from ESPN.com's Jeff Borzello and The Associated Press contributed to this report.