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.
- Frank Kaminsky, Jahlil Okafor highlight five Wooden Award finalists 3
- 2015 NCAA Tournament All-Second Weekend Team 2
- While a major question remains unanswered, No. 4 North Carolina can be special in 2015-16 3
- Tournament darling R.J. Hunter is heading to the NBA 3
- Texas freshman Myles Turner declares for the NBA Draft 6
- The Final Four is set, and it’s going to be insane 24
- No. 7 Michigan State reaches the Final Four for the seventh time under Izzo 15
- Andrew Harrison’s late free throws send No. 1 Kentucky to the Final Four (88)
- Kentucky responds to Daxter Miles Jr.’s pregame comments (30)
- Updated tournament records: Big Ten teams make up half of Final Four (27)
- The Final Four is set, and it’s going to be insane (24)
- West Virginia freshman on Kentucky: ‘They’re going to be 36-1′ (21)