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.
- North Carolina athletic director Bubba Cunningham comments on Rashad McCants situation 1
- College Basketball Talk’s Recruiting Roundup 0
- Former Michigan center discusses hasty departure for the NBA (VIDEO) 0
- Five-star 2015 center trims list to five 1
- College of Charleston coaching search takes another turn 0
- Rivals releases new rankings for the Class of 2015 0
- Will Bill Self and Kansas play small-ball this season? 2
- DePaul’s Purnell loses fifth recruit that signed letter of intent (3)
- Former Ole Miss star Marshall Henderson getting pro tryout in Italy (2)
- Will Bill Self and Kansas play small-ball this season? (2)
- Report: Ex-Spartan forward headed to Ohio (1)
- Blue Ribbon releases their Preseason First Team All-Americans (1)