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

Aaron Williams — Wed, 11 Jul 2012 15:11:47 +0000

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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Download Coach Smart's contract (PDF)

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