Skip to content

Shaka Smart’s new contract at Virginia Commonwealth

Oct 20, 2013, 12:15 PM EDT

VCU v Michigan Getty Images

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.

Latest Posts
  1. Wake Forest gets 2016 commitment from assistant coach’s son

    Oct 25, 2014, 12:50 PM EDT

    AP AP

    This is Danny Manning’s third commitment this month, first in the Class of 2016.

  2. 2014-15 Southern Conference Preview: Wofford, Chattanooga favored in Davidson’s absence

    Oct 25, 2014, 12:00 PM EDT

    Wofford guard Karl Cochran (Getty Images) Getty Images

    Davidson is gone, but that does not mean that the SoCon will be a bad basketball league.

  3. Top 10 recruit cuts his list to three schools

    Oct 25, 2014, 11:45 AM EDT

    Nike EYBL Nike EYBL

    Only three programs remain in contention for the nation’s top rated point guard.

  4. Makinde London juggles three basketballs, dunks two during Xavier dunk contest (VIDEO)

    Oct 25, 2014, 11:00 AM EDT

    Makinde London

    Pretty good dunk, but still not better than Chris Mack’s entrance.

  5. Roy Williams says he was ‘dumbfounded’ following Kenneth Wainstein’s report (VIDEO)

    Oct 25, 2014, 10:15 AM EDT

    Roy Williams Getty Images

    The Hall of Fame coach makes his first comments, several days after Kenneth Wainstein released his report.

  6. Tom Izzo performs with KISS cover band on stage at Michigan State’s Midnight Madness (VIDEO)

    Oct 24, 2014, 10:55 PM EDT

    tom izzo

    Tom Izzo does it again. Add it to the long line of amazing midnight madness entrances.

  7. Chris Mack and his daughters performed ‘Paul Revere’ by the Beastie Boys (PHOTO/VIDEO)

    Oct 24, 2014, 10:24 PM EDT

    Instagram/XU Athletics Instagram/XU Athletics

    Chris Mack and his daughters performed ‘Paul Revere’ at Musketeer Madness on Friday night.

  8. Wisconsin’s Sam Dekker injured at practice on Friday

    Oct 24, 2014, 8:05 PM EDT

    AP AP

    The Wisconsin forward is likely to miss a week or two

  9. Providence freshman forward, a top 100 recruit, is cleared to play this season

    Oct 24, 2014, 7:30 PM EDT

    Ed Cooley Ed Cooley

    Ed Cooley adds a 6-foot-8 forward to the Friars’ front court.

  10. Larry Brown talks about Ben Emelogu’s wavier to play this season (VIDEO)

    Oct 24, 2014, 6:45 PM EDT

    AP Photo AP

    The former Virginia Tech Hokie will be a big boost to SMU’s perimeter.

  11. Manhattan’s returnees look to build on the achievements of last season’s senior class

    Oct 24, 2014, 6:00 PM EDT

    Emmy Andujar and Shane Richards will be key players for Manhattan. (AP Photo) AP

    Manhattan and head coach Steve Masiello had some issues to address this spring, but thanks in part to their departed senior class the Jaspers are well-positioned to once again contend in the MAAC.

  12. Five-star 2015 power forward down to five schools

    Oct 24, 2014, 5:05 PM EDT

    cd0ymzcznguwzdbhnduynddiytjhm2yyzthlmtjjotqwyyznpti1yzy1ymy3ytizody1zwrhyzfhmme2odcxyjawntbi AP

    One of the nation’s highly-touted bigs is closer to making a decision after eliminating two programs from his list.

  13. LSU’s Johnny Jones receives raise, contract extension

    Oct 24, 2014, 4:22 PM EDT

    Johnny Jones AP

    Jones became the second coach to lead LSU to postseason appearances in his first two years this past spring.

  14. 2014-15 Season Preview: Rivals Iona, Manhattan have company in race to the top of the MAAC

    Oct 24, 2014, 3:00 PM EDT

    Manhattan's Steve Masiello (AP Photo) Manhattan's Steve Masiello (AP Photo)

    Rivals Iona and Manhattan are once again among the contenders, but they’ll have plenty of company in the race for the MAAC crown.

  15. UMass rewards Derek Kellogg with contract extension through 2018-19 season

    Oct 24, 2014, 1:52 PM EDT

    AP AP

    Kellogg’s led his alma mater to 21 wins or more in each of the last three seasons.

  16. Former Big East foes announce home-and-home series

    Oct 24, 2014, 12:39 PM EDT

    John Thompson III AP

    Georgetown holds a 35-29 lead in their all-time series with UConn.

  17. Top 25 Countdown: No. 11 Villanova Wildcats

    Oct 24, 2014, 12:30 PM EDT

    Getty Images Getty Images

    Villanova went 29-5 last season and return essentially the same lineup. Why aren’t more people talking about them?

  18. Four-star shooting guard verbally commits to Texas

    Oct 24, 2014, 12:13 PM EDT

    Rick Barnes AP

    Texas now has two four-star commitments, with Kerwin Roach joining Eric Davis on Friday.

  19. Three-star guard becomes Baylor’s fifth 2015 commitment

    Oct 24, 2014, 10:00 AM EDT

    Scott Drew AP

    Of Baylor’s five verbal commitments in the Class of 2015 four are guards, including their latest commit.