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. The other side of the July live period: Recruits continue to strive for attention and offers

    Jul 29, 2014, 10:12 AM EDT

    Trevon Mollison (Drew Ebanks/OnPointBasketball) Trevon Mollison (Drew Ebanks/OnPointBasketball)

    Beyond the glitz and glamour of the highest levels of AAU basketball are kids fighting to land one of a few coveted scholarships.

  2. Louisville’s Akoy Agau out indefinitely after surgery on Tuesday

    Jul 29, 2014, 9:31 AM EDT

    @Akoy22 @Akoy22

    The procedure wasn’t know until Agau took to social media.

  3. Wisconsin receives Final Four rings (PHOTOS)

    Jul 28, 2014, 10:00 PM EDT

    Bo Ryan AP

    Wisconsin got some pretty cool rings for making the Final Four.

  4. Five-star 2016 forward Harry Giles looks healthy after knee injury (VIDEO)

    Jul 28, 2014, 8:45 PM EDT

    Harry Giles

    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.

  5. Northwestern head coach Chris Collins will coach USA Basketball Select Team

    Jul 28, 2014, 7:30 PM EDT

    Chris Collins AP

    Northwestern head coach Chris Collins will be working with pros this summer.

  6. Seven takeaways from AAU Nationals and Super Showcase

    Jul 28, 2014, 5:45 PM EDT

    (Scott Phillips/NBC Sports) (Scott Phillips/NBC Sports)

    Seven thoughts are a weekend at AAU Nationals and Super Showcase in Louisville.

  7. Washington lands a commitment from Jermaine Haley

    Jul 28, 2014, 3:36 PM EDT

    DRIVE Basketball DRIVE Basketball

    Haley is the first member of Washington’s 2016 recruiting class.

  8. Seven takeaways from Las Vegas for the final AAU weekend of 2014

    Jul 28, 2014, 2:59 PM EDT

    (adidas) (adidas)

    Our Raphielle Johnson spent five days at the tournaments out in Vegas last week. Here are his thoughts on them.

  9. One college coach’s unique connection to the Peach Jam

    Jul 28, 2014, 2:00 PM EDT

    AP/Jon-Michael Sullivan AP/Jon-Michael Sullivan

    Miami of Ohio assistant coach Trey Meyer is a native of North Augusta and grew up working, playing and coaching at Peach Jam.

  10. Kwe’Shaun Parker could win the NBA dunk contest right now (VIDEO)

    Jul 28, 2014, 1:36 PM EDT

    Screen Shot 2014-07-28 at 1.34.37 PM

    The scary part? The rising junior’s game is finally starting to develop.

  11. Report: Houston transfer Valentine Izundu is heading west

    Jul 28, 2014, 1:00 PM EDT

    AP Photo AP Photo

    Izundu played very limited minutes as a sophomore

  12. Kentucky’s budget for chartered jets is massive

    Jul 28, 2014, 12:33 PM EDT

    Kentucky Speedway Kentucky Speedway

    Want to guess how much they spend on planes for recruiting?

  13. July Live Period Week Three Superlatives

    Jul 28, 2014, 11:00 AM EDT

    Adidas Hoops Adidas Hoops

    The best of the best from the final week of the July live evaluation period from Las Vegas and Louisville.

  14. Ben Simmons does not make Australia’s national team

    Jul 28, 2014, 9:57 AM EDT

    Ben Simmons (Kelly Kline/Under Armour) Ben Simmons (Kelly Kline/Under Armour)

    Thon Maker won’t be on the team either, but it is loaded with former college stars.

  15. Skal Labissiere is considering Europe, but that doesn’t mean there’s a market for him

    Jul 28, 2014, 9:00 AM EDT

    "NBPA Top 100 Camp"

    Skal Labissiere may want to go to Europe. That does not mean Europe wants him.

  16. Official visit schedule set for five-star 2015 center Stephen Zimmerman

    Jul 27, 2014, 9:39 PM EDT

    Nike EYBL Nike EYBL

    Despite not being included among the five official visits, Indiana and UNLV remain options for Zimmerman.

  17. Louisville’s Montrezl Harrell breaks his second backboard of the summer

    Jul 27, 2014, 5:41 PM EDT

    AP AP

    Nearly three months after breaking a backboard during a pickup game, the rising junior took out another one this weekend.

  18. Arizona commit Ray Smith calls ACL tear ‘a blessing’

    Jul 27, 2014, 3:05 PM EDT

    ray-smith

    Ray Smith tore his ACL earlier this month.