BATON ROUGE - New LSU basketball coach Matt McMahon's contract will pay out more than $2 million per year and promises an additional season if the program is hit with sanctions for NCAA violations that happened under previous coach Will Wade.

Watch McMahon's introductory press conference live at 2:00

The deal will come out to about $20.3 million over seven years and includes additional incentives for postseason appearances.

The contract also specifically outlines that an additional year will be added to the end of his contract if the basketball program "receives a post-season ban for two or more years or a scholarship reduction of two or more scholarships for three or more years, as a result of actions that occurred prior to the start date of this contract."

Read the full contract here

Will Wade was fired earlier this month after LSU received a noticed of allegations related to the team's recruiting practices.