Chart: Highlights of new Gophers coach Richard Pitino's contract
- April 6, 2013 - 12:21 AM
THE DEAL FOR PITINO
Highlights of Gophers coach Richard Pitino’s contract:
• Pitino will make $1.2 million per year ($500,000 base salary plus $700,000 supplemental) on a six-year contract. The base portion of his salary will increase by at least 5 percent every year.
• He will get a lump sum bonus of $400,000 on April 30, 2016, and on the same date in 2019 if he is still coaching at the U.
• He has the use of a private jet for recruiting. Expenses for the jet cannot exceed $50,000 in a fiscal year.
• If Minnesota fires him, the buyout is half his base salary plus all supplemental salary remaining. However, if Pitino gets another “comparable” job, Minnesota’s payments to Pitino would end. That’s a provision Minnesota did not have with Tubby Smith.
• If Pitino wants to get out of his contract early, he has to pay $1.5 million before April 30, 2016, and $500,000 any time after that for the length of the contract.
• Pitino has several bonus clauses, including $50,000 for making the NCAA tournament and another $50,000 if the Gophers make the Sweet 16. He gets $50,000 if Minnesota has a winning record in the Big Ten — something Smith never accomplished.
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