Arizona State Earns Record Revenue For FY '16 Ohio State AD Smith Talks New CFP Role Auburn Makes $15M Profit In FY '16 Indiana In The Black For 11th Straight Year Gonzaga Basketball Tickets Are Hot Commodity UGA Will Undergo $63M Project For Sanford Stadium Fresno State Struggles With Season Tickets UNLV Athletics Facing Nearly $5M Shortfall Who Is The Favorite For Tennessee AD Role? USC, UCLA Competing With Two NFL Teams
SBD/June 4, 2014/Colleges
Saban's Contract Extension Bumps Annual Compensation To $6.9M, With No Exit Penalty
Published June 4, 2014
WAHOO'S THE BOSS? In Virginia, Norm Wood reports Virginia's men's basketball coach Tony Bennett yesterday "got his reward" for leading the team to its deepest run in the NCAA tournament in 19 years, with a new seven-year contract worth $1.924M annually. Bennett, who earned $1.7M in "annual base salary and supplemental income with his old contract," is now under contract through the '20-21 season. The deal includes "longevity bonuses" of $1M if he is still UVA's coach on March 15, 2019, and an additional $400,000 if he is still with the school on March 15, 2021. If Bennett "resigns or otherwise terminates his employment" at UVA before the conclusion of the contract, he will "owe the school" $1.4M -- an amount that will be reduced by $200,000 for each full year of employment between May 1, 2014, and April 30, 2017 (Hampton Roads DAILY PRESS, 6/4).