It's official — John Calipari is the new head coach of the Arkansas Razorbacks mens' basketball team.The University of Arkansas Athletics Department made the announcement Wednesday morning.Calipari signed a five-year contract with a starting salary of $7 million a season. It includes a $1 million signing bonus, retention bonuses, and bonuses for making the NCAA Tournament, reaching the second round, Sweet 16, Final Four, and winning a national championship. Follow this link for a further breakdown of his contract.The contract also has a maximum of two automatic rollover years for NCAA Tournament appearances.Calipari was greeted by scores of Razorbacks fans at Drake Field when his plane landed Wednesday afternoon. He met fans and shook hands as he got in a vehicle to head to campus.Hogs fans then flocked to Bud Walton Arena where "Coach Cal" was introduced to Arkansas.Gov. Sarah Huckabee Sanders welcomed coach John Calipari to Arkansas in her State of the State address hours after the announcement.Sanders mentioned him while talking about people from outside the state coming to Arkansas."I've met transplants wherever I have gone," Sanders said. "We are even getting a former Kentucky Wildcat in Fayetteville as I speak. Welcome to Arkansas, Coach."Lawmakers then interrupted her speech with applause.This news comes days after Eric Musselman announced he was leaving The Hill for USC.Calipari bid farewell to Kentucky in a video Tuesday.A three-time Naismith College Coach of the Year honoree, Calipari has compiled a 410-123 record in 15 seasons at Kentucky. He led the Wildcats to seven Elite Eights, four Final Fours, and won a National Championship in 2012.ESPN reported that John H. Tyson, a billionaire and longtime Arkansas benefactor, has a strong connection and friendship with Calipari.