Sources: Oklahoma State Exploring AD-In-Waiting Football Drives Ohio State Revenue College Hockey Struggling To Grow Despite Talent Glut Pitt Officially Introduces New AD Heather Lyke Minnesota Works To Erase Athletics Debts UConn Struggling To Find Footing In AAC? Pitt Selects Heather Lyke As AD Pegula Investments Help Penn State Hockey Wichita State Leaving MVC Growing More Likely Domestic Light Beer Popular At Ohio State Football
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).