Jun 7, 2014, 1:10 PM EDT
Details of Auburn coaches’ contracts were released on Friday and it includes the details of men’s basketball head coach Bruce Pearl’s new six-year deal.
According to James Crepea of the Montgomery Advertiser, the deal is worth $14.7 million and includes $250,000 in base salary and $975,000 in both endorsement rights and media appearances, with increases of $50,000 annually in both. Peal also got a one-time signing bonus of $500,000.
The former Tennessee head coach also has 16 performance bonuses which includes $25,000 for 20 wins or nine SEC wins in each of the next two seasons, or 22 wins, 25 wins of a NIT title. Pearl can also receive a $500,00 bonus for winning the national title.
Also of note in Pearl’s contract, he will owe Auburn $500,000 if he violates his NCAA show-cause penalty.
The buyout for Pearl’s contract is for 50 percent of his remaining contract. There’s a decreasing sum Pearl would owe for each year he would leave Auburn, beginning with $5 million if he left before April 15, 2016 and decreasing by $1 million each year through 2020. A final amount of $250,000 would remain if Pearl left after April 15, 2020, but before the end of this contract, which runs through June 2020.
Auburn is investing quite a bit in Pearl, but the buyout is a tough 50 percent and is high for the next few seasons.
- Wisconsin’s Bo Ryan makes another statement wavering on potential retirement 0
- Cody Zeller, Indiana president speak out against recent athlete legal issues 0
- Five-star 2016 combo guard cuts list to four 0
- Xavier, Mount St. Joseph to launch the ‘Lauren Hill Tip-Off Classic’ 0
- Tai Wynyard: ‘I will be coming to UK in December’ 0
- Tom Izzo, 30 second shot clocks, and why zone presses will be more popular this year 1
- Kentucky lands a commitment from four-star 2016 forward 0
- Blue Ribbon announces their preseason all-american team (3)
- Syracuse legend to undergo surgery on a brain tumor this week (2)
- Wake Forest dismissed senior point guard for rules violation (1)
- Is Louisville’s non-conference schedule weak by design? (1)
- 10 year old Ohio State fan worried heart surgery would make him love Michigan (1)