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.
Mar 9, 2014, 3:17 PM EDT
In recent years the East Division has dominated the MAC, with the last nine winners of the automatic bid coming from that division. But the power was in the West this year, with Western Michigan and Toledo finishing with matching 14-4 conference records. As a result those two get byes to the semifinals, with three-seed…
Mar 9, 2014, 2:47 PM EDT
No. 5 Virginia lost their first game since January. Just how concerned should be be about the Cavaliers? Are they still in contention for a No. 1 seed?
Mar 9, 2014, 2:12 PM EDT
Get to know the second entry into the 2014 NCAA Tournament field, the Coastal Carolina Chanticleers.
Mar 9, 2014, 2:08 PM EDT
The CAA Tournament semifinal will take place on Sunday afternoon in Baltimore. The first semi will be between CAA regular season champion Delaware and a Northeastern team that can count a win over Georgetown on their resume. You can watch the game live on NBC Sports Live Extra. The first semifinal will tip off at…
Mar 9, 2014, 1:15 PM EDT
MEAC favorite North Carolina Central looks to avoid the chaos of last season’s tournament, in which the top three seeds all lost in the quarterfinals.
Mar 9, 2014, 1:05 PM EDT
The sophomore forward is still unsure if he will return to action this season, only appearing in eight games due to a back injury.
Mar 9, 2014, 12:00 PM EDT
The 7-foot center has missed the last two games for the Kansas. The Jayhawks have won the Big 12 title, but have dropped two of their last three games heading into the conference tournament
Mar 9, 2014, 10:33 AM EDT
After spending almost two full decades at IUPUI, Todd Howard was let go following two straight 6-26 seasons.
Mar 9, 2014, 9:40 AM EDT
Three more teams will punch tickets to the Big Dance on Sunday, including Wichita State if the Shockers can get past Indiana State and improve to 34-0
Mar 9, 2014, 3:10 AM EDT
No. 4 Duke and No. 10 San Diego State picked up big home wins, and Eastern Kentucky became the second team into the NCAA tournament field on a busy Saturday.
Mar 9, 2014, 12:56 AM EDT
New Mexico led by 16 with 12:05 remaining. And then their inability to adjust to San Diego State’s 1-3-1 zone cost them the Mountain West title.
Mar 9, 2014, 12:50 AM EDT
No. 10 San Diego State overcomes a 16-point second half deficit as they knock off No. 21 New Mexico and bring home a Mountain West title. But should that change how we view the Aztecs?
Mar 9, 2014, 12:09 AM EDT
North Carolina shot nearly 60%, but getting whipped on the boards cost them dearly at Cameron.
Mar 8, 2014, 11:56 PM EDT
Jabari Parker and Rodney Hood both went off for No. 4 Duke as the Blue Devils smacked around North Carolina. Does that mean we can call them a Final Four team again?
Mar 8, 2014, 11:16 PM EDT
Get caught up on all of Saturday’s bubble action
Mar 8, 2014, 9:38 PM EDT
Creighton’s senior forward scored his 3,000th career point on Saturday night. Only seven other players have reached that total.
Mar 8, 2014, 9:24 PM EDT
Get to know the second entry into the 2014 NCAA Tournament field, the Eastern Kentucky Colonels.
Mar 8, 2014, 7:49 PM EDT
No. 3 Arizona hasn’t been the best perimeter shooting team, but they’ve been able to make up for that on most days. That wasn’t the case against Oregon, and the struggles of Rondae Hollis-Jefferson and Gabe York didn’t help either.
Mar 8, 2014, 7:09 PM EDT
Texas A&M celebrated Senior Day on Saturday and it included honoring former high school signee Tobi Oyedeji, who was tragically killed in a car accident in 2010 and never played for the school.
Mar 8, 2014, 6:45 PM EDT
Oregon wins its seventh straight, and the Ducks likely punched their ticket to the NCAA tournament with the win over No. 3 Arizona.
- Jabari Parker, Rodney Hood score 54 in No. 4 Duke’s win over No. 14 UNC 0
- Bubble Banter: Oregon, Tennessee headline Saturday’s early winners 0
- Creighton’s Doug McDermott scores his 3,000th point (VIDEO) 0
- Oregon’s big win over No. 3 Arizona caps impressive regular season turnaround 1
- No. 8 Kansas loses, but The Andrew Wiggins Show is what’s important 1
- No. 1 Florida’s undefeated SEC season not just a by-product of their league 5
- Harvard wraps up third consecutive NCAA tournament berth (VIDEO) 0
- No. 7 Syracuse falls to Georgia Tech in a shocking home loss (9)
- College Basketball Talk’s latest Top 25 (6)
- Assigned Reading: Dean Smith’s health continues to deteriorate (6)
- For the first time in months, No. 22 Michigan State and Keith Appling look healthy (6)
- Bracketology: Eight teams in play for No. 1 seeds (6)