COLUMBIA, Mo. — Mike Anderson has signed a seven-year deal to remain Missouri's basketball coach.

The school announced Tuesday that the third-year coach and university officials signed the contract a day earlier. He will make an annual base salary of $1.35 million. That's a $500,000 yearly increase from his previous deal.

Various incentives could boost his annual pay to as much as $2.1 million. But Anderson would reach amount only by winning a national title.

Anderson would earn an extra $200,000 annually in deferred income if he stays at least four years. If he leaves for another job, Anderson or his new employer would have to pay Missouri up to $550,000.