Shaka Smart’s contract: more money than meets the eye

Last week, Coach Shaka Smart and VCU finalized a contract for 2012-2020. The extremely popular coach will earn $1.36 million in base salary and even more money with his bonuses.

July 11, 2012; 11:11 AM • by Aaron Williams

This March, Coach Shaka Smart and the VCU Rams completed an incredible, transformational season. After a disappointing 3-3 start, Smart led the 9th youngest team in the nation within one shot of the Sweet 16, finishing 29-7.

At the end of last season Coach Smart turned down offers of $2 million and $2.5 million from NC State and Illinois. After such impressive offers, VCU renegotiated Smart’s contract–which may become an annual tradition as long as Smart holds the reigns in Richmond. Here’s a breakdown of Coach Shaka Smart’s new contract.

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Guaranteed

• Annual base salary — $450,000
• Supplemental Income Payment — $800,000
• Deferred compensation — $60,000
• Radio and television participation — $25,000
• University speaking engagements — $25,000

• Total: $1,360,000

Within reason

• NCAA appearance — $56,250
• NCAA 1st win — $37,500
• NCAA 2nd win — $37,500
• NCAA 3rd win — $37,500
• Beating an “A10” team — $5,000
• Beating ODU — $2,000
• 20+ wins per season — $20,000
• A-10 Coach of the Year — $6,000

• Subtotal: $201,750
• Total: $1,561,750

When pigs fly or VCU makes the Final 4…

• NCAA 4th win — $56,250
• NCAA 5th win — $56,250
• NCAA 6th win — $75,000
• NCAA 7th win — $75,000
• AP Coach of the Year — $20,000

• Subtotal: $282,500
• Total: $1,844,250

Flexible

• Season Tickets sales (2,000-3,500) — $3,000-$20,000
• Average Home Attendance (5,500-7,000) — $3,000-$20,000
• National television appearance — $6,500
• Regional television appearance outside of A10 package — $3,500

Icing on the cake

• Three weeks of basketball camps using VCU facilities
• Car for VCU business including fuel, parking, maintenance and insurance
• $10,000 annual clothing allowance

Smart will undoubtedly continue to earn offers at the end of each season. If he decides to take a new job in 2013, his new employer will pay VCU $700,000. For every year he stays, the fee will decrease by $100,000.

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Related

• Download Coach Smart’s contract (PDF)

 

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July 11, 2012 11:11 AM 0