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. Summer mixtape of 2015 wing Malik Beasley (VIDEO)

    Sep 2, 2014, 11:00 PM EDT

    Kelly Kline/Under Armour Kelly Kline/Under Armour

    Malik Beasley had a great summer as a high-scoring guard.

  2. SMU has sold out Moody Coliseum for the 2014-15 season

    Sep 2, 2014, 10:00 PM EDT

    AP AP

    SMU is quickly building a big home-court advantage.

  3. Buffalo gives head coach Bobby Hurley a contract extension

    Sep 2, 2014, 9:00 PM EDT

    Bobby Hurley, Joshua Freelove AP

    Former Duke point guard gets a better contract at Buffalo.

  4. Two NBA stars each pledge $1 million for new Georgetown practice facility

    Sep 2, 2014, 8:00 PM EDT

    John Thompson

    The Hoyas are getting some more former players to donate.

  5. College of Charleston finally ends head coaching search

    Sep 2, 2014, 6:49 PM EDT

    Earl Grant Earl Grant

    The College of Charleston finally has its man.

  6. Oregon State nabs a trio of top 150 commitments in the 2015 class

    Sep 2, 2014, 5:32 PM EDT

    cd0ymzcznguwzdbhnduynddiytjhm2yyzthlmtjjotqwyyznpwfhnwfmzde2yzeyytmwmju4zjfmmtkwzmrjmjg0zti11 AP

    Oregon State picked up a big commitment on Tuesday afternoon.

  7. College Basketball Talk’s Recruiting Roundup

    Sep 2, 2014, 5:00 PM EDT

    cd0ymzcznguwzdbhnduynddiytjhm2yyzthlmtjjotqwyyznpte3owi1njbhnjg0mtc2yjbkzdgzmdzhnzm2mtbjytc1 AP

    News and notes from around the world of college basketball recruiting.

  8. A Christian Laettner 30-for-30 on Selection Sunday? May we be so lucky

    Sep 2, 2014, 4:09 PM EDT

    AP Photo AP Photo

    And it will be on the best day in the college hoops calendar? Make. This. Happen. Please.

  9. Virginia lands commitment from 2016 three-star point guard

    Sep 2, 2014, 2:51 PM EDT

    AP AP

    Did Tony Bennett just land London Perrantes, version 2.0?

  10. Iowa legend, all-time leading scorer diagnosed with cancer

    Sep 2, 2014, 12:39 PM EDT

    Print

    It’s the second time this year that cancer has come too close to home for the Hawkeyes.

  11. Latest mixtape for Dennis Smith Jr. shows how talented he is (VIDEO)

    Sep 2, 2014, 10:54 AM EDT

    Kelly Kline/Under Armour Kelly Kline/Under Armour

    Smith is a high-flying guard in the same mold as a John Wall or Derrick Rose.

  12. Avery Harriman is featured on the Today Show (VIDEO)

    Sep 2, 2014, 9:25 AM EDT

    Screen Shot 2014-08-28 at 10.54.09 AM

    Avery is undergoing chemo to battle leukemia for the third time.

  13. New mixtape of 2016 guard Kwe Parker is ridiculous (VIDEO)

    Sep 1, 2014, 9:45 PM EDT

    (Nike) (Nike)

    Kwe Parker is one of the best dunkers in all of basketball and he shows why in this new mixtape.

  14. Report: Arizona State gives Herb Sendek a contract extension

    Sep 1, 2014, 8:20 PM EDT

    Herb Sendek AP

    Arizona State has given head coach Herb Sendek an extension.

  15. East Carolina nabs a local 2015 wing

    Sep 1, 2014, 6:55 PM EDT

    jeff lebo Getty Images

    East Carolina is on the board in 2015.

  16. Five-star 2015 forward cuts his list to five schools

    Sep 1, 2014, 5:28 PM EDT

    (adidas Gauntlet) (adidas Gauntlet)

    A five-star 2015 forward cut his list to five schools on Monday.

  17. Indiana freshman is currently in a walking boot

    Sep 1, 2014, 4:20 PM EDT

    Tom Crean AP

    Indiana will have to remain patient with a freshman that is currently battling an ankle injury.

  18. Assembly Hall as a groom’s cake? Why not! (PHOTO)

    Sep 1, 2014, 2:20 PM EDT

    @Kschack1 @Kschack1

    You need a very understanding wife to get away with this.

  19. Tennessee adds second commitment in two days with three-star guard

    Sep 1, 2014, 2:20 PM EDT

    Murray St Morehead St Basketball

    Tennessee has one scholarship left available for 2015.