On Jan. 15, 2014 Charlie Strong’s contract became official. The former Louisville head coach signed a five year deal at Texas with a base salary of $5 million per year. This puts the new Longhorn head coach in rarified air. Strong becomes the third coach in the $5 million club – joining Alabama’s Nick Saban and Texas A&M’s Kevin Sumlin.
The first item to catch our eye is Strong’s buyout. Texas will pay Louisville $4.375 million for hiring Strong away from the Cardinals. This means that Strong will cost the university $9.375 million in 2014.
Win or lose, Strong will earn an annual raise of $100,000 for the term of the contract. This will look like a steal if he brings a national championship to the Forty Acres; not so much if the team wins six games.
There are additional incentives that could earn Strong even more money:
- Academic performance incentives – $25,000-75,000 depending on the team’s overall GPA. It is safe to assume Strong is aiming high following these comments.
- A National championship will earn him a $250,000 bonus (just making it to the big game is worth $100,000). A Big 12 championship is worth $100,000.
- Should Strong win the National Coach of the Year award, that is worth yet another $100,000.
- A Top-5 final ranking is worth 3 percent of the contract.
In all, Strong can earn up to $900,000 in bonuses in 2014.
Along with all of the financial incentives, there a few perks to being the head man at Texas.
- Complimentary season tickets for men’s and women’s sports. Strong gets a suite and six tickets for football, four tickets for all other sports.
- Membership into the UT Golf Club, UT Club and UT Headliners.
- Two courtesy cars from a local dealership (no word yet on who the lucky dealership is).
- Use of an airplane. Strong gets 20 hours of airplane flight time.
- Strong’s wife will have all of her travel expenses covered when she travels to games and other business activities.
- Strong will not have to load a U-Haul himself; UT will pay all reasonable moving expenses.
Not bad for a guy with a career won-loss record of 37-16.