Maryland Enjoying Success After Big Ten Move Iowa State To Restrict Alcohol Sales To Clubs Va. Tech's Babcock Talks COA, Power 5 Barnes Making Football Key At Pitt College Notes Pitt Creates New Fan Council Iowa Football Expects 10% Drop In Season Tix Coming This Fall: Game Changers Syracuse Taps BSU's Coyle As Next AD Kentucky Ups Ticket Prices For Men's Basketball
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).