The Kentucky Wildcats have decided the future of their men's basketball head coach, John Calipari, following their early exit in the 2024 NCAA Tournament.

University of Kentucky athletics director Mitch Barnhart has confirmed that the 65-year-old tactician will retain his position for the next season.

"As we normally do at the end of every season, Coach Calipari and I have had conversations about the direction of our men's basketball program and I can confirm that he will return for his 16th season as our head coach," the 64-year-old director said on social media platform X, formerly Twitter.

The No. 3 seeded Kentucky faced a shocking defeat against the No. 14 seed Oakland University, 80-76, in the first round of the annual tourney on Thursday, March 21, at PPG Paints Arena in Pittsburgh, Pennsylvania.

Kentucky would have to spend a lot to fire John Calipari

If Kentucky decides to relieve Calipari of his duties, it will come at a significant financial cost.

The one-time national champion coach will be entitled to a buyout of $34,968,749 as of April 1 if he is terminated without cause. He is also set to receive an $8.5 million salary from the school this season.

Calipari assumed the head coaching position at Kentucky in 2009 after spending nearly a decade with the Memphis Tigers.