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.

Shaka-Front

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.

— ∮∮∮ —

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

 

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Aaron Williams

Aaron Williams loves music, basketball (follow @rvaramnews!), family, learning, and barbecue sauce.

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