Oct 20, 2013, 12:15 PM EDT
In this day and age, job security is seemingly as important as a high-paying job.
For Shaka Smart, he has both at Virginia Commonwealth.
On October 11th, Smart signed a new contract with VCU — different from the one he signed this past March — that enables the 36 year old coach to remain in his current job through 2028. The previous deal went through 2023.
According to Paul Woody of the Richmond Times-Dispatch, Smart’s base salary is $450,000 per year, but his supplemental income increases from $800,000 to $950,000 with the new deal. Furthermore, Smart’s guaranteed compensation is $1.45 million in the first year of the contract and $1.5 million in subsequent years.
What makes it such a unique contract are the many incentives:
In addition to his base salary and supplemental income, the contract states Smart will receive $25,000 per year for university sponsored radio and television appearances.
Smart can be required to speak at or attend events or functions sponsored by the university, the university development office and other affiliated organizations that benefit the university directly or indirectly.
He will receive $25,000 annually for such appearances.
Other potential compensation includes $6,500 for every VCU game broadcast nationally and $3,500 per game broadcast outside the VCU or Atlantic 10 package.
Smart will receive $5,000 for a victory over a member of the ACC — four are on VCU’s schedule this season — and $2,000 for defeating Old Dominion.
If the Rams miss the NCAA tournament but are selected for the NIT, Smart will receive $2,000. He can make as much as $31,000 if VCU wins the NIT.
If the Rams win 20 or more games in a season, Smart receives a $20,000 bonus.
There also are incentives for players’ academic performances. Smart receives $4,000 for each player who graduates by the summer of the completion of his athletic eligibility and $2,000 per player for any who graduate within one year of the completion of their eligibility.
Smart’s new contract sends a message of program stability and reaffirms to prospective recruits and donors that Smart is content at VCU. Recall that his name was continually being mentioned for big time jobs in the past, namely Illinois, Minnesota UCLA, and USC.
Smart became VCU’s coach in 2009 after Anthony Grant left to take the head coaching position at Alabama. In his four years at the helm, Smart has advanced to the NCAA Tournament three seasons, and went to the Final Four in 2011 as a No. 11 seed. He has a record of 111-37 over the four seasons.
Jul 29, 2014, 10:12 AM EDT
Beyond the glitz and glamour of the highest levels of AAU basketball are kids fighting to land one of a few coveted scholarships.
Jul 29, 2014, 9:31 AM EDT
The procedure wasn’t know until Agau took to social media.
Jul 28, 2014, 11:30 PM EDT
Richard Pitino likes that he can feed his players now.
Jul 28, 2014, 10:00 PM EDT
Wisconsin got some pretty cool rings for making the Final Four.
Jul 28, 2014, 8:45 PM EDT
After tearing his ACL less than a year ago, Harry Giles looks healthy and prepared to battle for No. 1 in the Class of 2016.
Jul 28, 2014, 7:30 PM EDT
Northwestern head coach Chris Collins will be working with pros this summer.
Jul 28, 2014, 5:45 PM EDT
Seven thoughts are a weekend at AAU Nationals and Super Showcase in Louisville.
Jul 28, 2014, 3:36 PM EDT
Haley is the first member of Washington’s 2016 recruiting class.
Jul 28, 2014, 2:59 PM EDT
Our Raphielle Johnson spent five days at the tournaments out in Vegas last week. Here are his thoughts on them.
Jul 28, 2014, 2:00 PM EDT
Miami of Ohio assistant coach Trey Meyer is a native of North Augusta and grew up working, playing and coaching at Peach Jam.
Jul 28, 2014, 1:36 PM EDT
The scary part? The rising junior’s game is finally starting to develop.
Jul 28, 2014, 1:00 PM EDT
Izundu played very limited minutes as a sophomore
Jul 28, 2014, 12:33 PM EDT
Want to guess how much they spend on planes for recruiting?
Jul 28, 2014, 11:00 AM EDT
The best of the best from the final week of the July live evaluation period from Las Vegas and Louisville.
Jul 28, 2014, 9:57 AM EDT
Thon Maker won’t be on the team either, but it is loaded with former college stars.
Jul 28, 2014, 9:00 AM EDT
Skal Labissiere may want to go to Europe. That does not mean Europe wants him.
Jul 27, 2014, 9:39 PM EDT
Despite not being included among the five official visits, Indiana and UNLV remain options for Zimmerman.
Jul 27, 2014, 5:41 PM EDT
Nearly three months after breaking a backboard during a pickup game, the rising junior took out another one this weekend.
Jul 27, 2014, 3:45 PM EDT
Chase Jeter is down to Arizona, Duke, UCLA and UNLV.
Jul 27, 2014, 3:05 PM EDT
Ray Smith tore his ACL earlier this month.
- The other side of the July live period: Recruits continue to strive for attention and offers 0
- Seven takeaways from AAU Nationals and Super Showcase 0
- Seven takeaways from Las Vegas for the final AAU weekend of 2014 0
- One college coach’s unique connection to the Peach Jam 0
- July Live Period Week Three Superlatives 0
- Skal Labissiere is considering Europe, but that doesn’t mean there’s a market for him 0
- AAU Nationals Saturday Recap: Raymond Spalding has upside, Trent Forrest and Gary Trent, Jr. perform at a high level 0
- Marcus Foster still hasn’t forgotten, or forgiven, those pulled scholarships (3)
- Two surprises after first cuts at Team USA U17 trials (3)
- Isaiah Austin has a job with the NBA once he finishes degree at Baylor (2)
- Top 15 recruit Antonio Blakeney has made the ‘jump’ — literally — to elite status (2)
- The latest allegations against Doug Wojcik involve a physical confrontation (2)