LOUISVILLE, Ky. (WDRB) — One of the first questions anyone had when University of Louisville athletic director Tom Jurich hired Bobby Petrino as football coach for a second time was, "How much is the buyout?"
The significant $10 million figure raised eyebrows. That's how much U of L will be owed if Petrino leaves before June 30, 2017. After that, the buyout drops to $8.5 million until 2018, then $7 million in 2019, then $5 million.
But more interesting: The buyout is reduced by half if Tom Jurich leaves the school as athletic director.
That's just one of the highlights of Petrino's new deal, obtained by WDRB today after an open records request made to the university the day Petrino was announced as coach.
Petrino's salary was announced at that time as $3.5 million. It actually is a base salary of $3 million, with another $500,000 that would come each year the program hits an NCAA Academic Progress Rate of 935. The program earned a rate of 924 in the last report, the result of steady improvement after academic penalties received following Charlie Strong's first season, but which were the result of departures before he arrived at the school.
That academic incentive is the single largest possible bonus in the deal, along with the bonus received for reaching a bowl game, which would amount to one month's salary plus the APR component, or $291,666.
Team grade-point average incentives range from $25,000 to $75,000. Petrino will receive $25,000 for a finish in the AP or ESPN Coaches' poll Top 25 or $50,000 for a top 10 finish. He will get $100,000 if he guides the Cardinals to a playoff appearance, $150,000 if he takes the team to the national title game and $200,000 if the Cardinals win it.
He would receive $50,000 if named Atlantic Coast Conference coach of the year by an established national college football organization, and $50,000 if named national coach of the year.
Other perks include two automobiles, two country club memberships, a month's vacation, use of school facilities at lowest rental rates for summer football camps (from which he may keep profits), a luxury box at Papa John's Cardinal Stadium with 18 tickets and eight tickets to each men's home basketball game.
The contract language for morality clauses and termination for cause are standard, and in keeping with other coaches' contracts at the university.
For more details, click on the graphic of contract highlights to the right.
Saturday, August 30 2014 3:51 PM EDT2014-08-30 19:51:46 GMT
The University of Kentucky football team got some big plays from young players and a steady start from quarterback Patrick Towles to pound Tennessee-Martin 59-14 in their first season opener at home since 2007.More >>
The University of Kentucky football team got some big plays from young players and a steady start from quarterback Patrick Towles to pound Tennessee-Martin 59-14 in their first season opener at home since 2007. More >>