New LSU football coach Brian Kelly is expected to receive just over $ 100 million in base pay over 10 years, according to a terms sheet USA TODAY Sports received from the school on Tuesday night.
The deal – which goes through a satisfactory background check and LSU board approval – makes Kelly the first public school coach on a nine-figure contract.
His salary is categorized as a base salary of $ 400,000 per year, additional pay that starts at an annual rate of $ 8.6 million, and a “longevity” payment of $ 500,000 which he will receive if he does. is at work every July 1st. The start date is “no later than” November 28, and the first year ends December 31, 2023.
His baseline total of $ 9.5 million for 2022 will tie him to Mel Tucker of State of Michigan as the second-highest-paid public school coach behind Nick Saban of Alabama, who is expected to earn 9.9 millions of dollars. The state of Michigan on Monday unveiled the terms of Tucker’s $ 95 million 10-year deal.
Lincoln Riley left Oklahoma for the University of Southern California on Monday. The terms of this agreement have not been made public.
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Kelly’s additional salary has a series of planned increases – to $ 8.8 million in 2023, $ 9 million in 2025, $ 9.2 million in 2027, $ 9.4 million in 2029 and 9, $ 6 million in 2031. But the agreement contains provisions that will allow it to increase these payments. It also offers the possibility of $ 1.325 million in annual bonuses, including $ 500,000 each time LSU is “eligible for the bowl.” This is probably the biggest bonus to becoming eligible for a boules game that does not involve a contract extension.
The first time LSU wins the Southeastern Conference Championship game under Kelly, his additional salary will increase by $ 250,000 for each remaining year of tenure. If this happened in Kelly’s first season, it would increase the value of the deal by $ 2.25 million. In addition, the first time LSU wins the National Championship, his additional salary will increase by $ 500,000 for each remaining year of the term. So if that happened in Kelly’s first season as well, the deal would increase in value by a total of $ 6.75 million.
Kelly’s base and extra pay – a total that starts at $ 95 million – are 90 percent guaranteed if Kelly is fired without cause. If LSU wins a National Championship, the remaining base salary and additional salary will be 100% guaranteed.
As long as LSU’s athletic director is Scott Woodward, Kelly will owe the school money if he ends the deal without cause. If Kelly leaves LSU without cause by December 31, 2022, he will owe the school $ 4 million. If Kelly leaves in 2023, he will owe $ 3 million. After that he owed $ 2 million. If Woodward is no longer LSU’s DA, then Kelly will not be subject to any payment to the school for his departure.
Kelly will have ample opportunity to increase her compensation through incentive payments available annually. In addition to the $ 500,000 Bowl Eligibility Bonus, if LSU played in any of the six college football playoff-related games, it would get the best of:
► $ 100,000 if the team is not in the semi-finals.
► $ 200,000 if the team is in the semi-finals.
► $ 300,000 if the team qualifies for the final.
► $ 500,000 if the team wins the championship.
If LSU plays in the SEC title game, Kelly will get a bonus of $ 75,000, plus an additional $ 75,000 if the Tigers win.
Kelly can get an additional $ 125,000 in bonuses for Coach of the Year awards and $ 50,000 depending on the academics on the team.
Kelly’s condition sheet also states that he will receive an interest-free loan, not to exceed $ 1.2 million, designed to cover 20% of the purchase price of Kelly’s primary residence, which is to be located at less than 30 miles from LSU’s Baton Rouge campus. Kelly will eventually have to repay the loan, plus 20% of any increase in the value of the home.
LSU will cover the amount of any buyback amount Kelly owes Notre Dame for terminating her contract there, although the list of conditions does not provide the actual dollar amount.
Additionally, Kelly will receive 50 hours of private plane time each year for personal use.
Follow college reporter Steve Berkowitz on Twitter @Berkowitz.
This article originally appeared on USA TODAY: College Football: Brian Kelly’s LSU Deal Has Staggering Bonuses