(Photo credit: Brad Penner-USA TODAY Sports)

Tennessee is extending the contract of men's basketball coach Rick Barnes by one year, through the 2027-28 season, following a run to the Sweet 16.

Financial terms were not disclosed, but reports said Barnes will earn $6 million in the new final year of his contract.

"We are thrilled to be able to extend Rick and continue to build on the tremendous men's basketball program he has developed here on Rocky Top," athletic director Danny White said in a news release. "He has infused a fantastic culture within our team and our players have represented Tennessee in a first-class manner both on the court and in the classroom.

"Our fans have responded to help create an electric atmosphere on gamedays and I can't wait to watch the Vols continue our quest for more championships under Rick's leadership."

Tennessee gave Barnes an extension through the 2026-27 season in March 2022. That came after the Volunteers won their first SEC tournament championship in 43 years.

The Volunteers also have made 38 appearances in the top 10 of the Associated Press national poll and reached No. 1 four times. He was the 2019 Naismith College Coach of the Year after Tennessee recorded 31 wins and made the Sweet 16.

Barnes, 69, began his head coaching career at George Mason in the 1987-88 season, then moved on to Providence (1988-94), Clemson (1994-1998), Texas (1998-2015) and Tennessee.

With the Volunteers, Barnes has a 175-92 record and has led the team to five straight NCAA Tournament appearances. Overall, his coaching record is 779-406 with 27 tournament appearances.

His Texas team went to the Final Four in 2002-23 and lost to Carmelo Anthony and eventual champion Syracuse in the semifinal round.