Money Money Money: Coach’s New Contract

31 Mar

Bruce Weber will be paid $1.5 million for the 2012-13 season, and his yearly salary will increase by $100,000 each year he stays with the Wildcats. If Weber is still in Manhattan through 2016-17, he will make $1.9 million that year. If he coaches through the duration of his contract, he will accumulate $8.5 million in base salary over five years.

Go through the list of bonuses he can attain, though, and it appears the total amount is likely to be much higher than that.

Weber’s contract offers myriad financial incentives based on the academic and on-floor performance of the basketball team. Below is the list of bonuses he could incur based on whether the following scenarios take place next year:

  • If KSU gets an NIT bid or goes at least 10-8 in Big 12 play —> $60,000
  • If KSU gets an NCAA bid —> $120,000
  • If KSU gets a Top 3 seed in the Big 12 tournament —> $180,000
  • If KSU reaches the Sweet 16 in the NCAA tournament or wins the Big 12 championship (regular season or tournament) —> $240,000
  • If KSU reaches the Elite Eight —> $300,000
  • If KSU reaches the Final Four —> $360,000
  • If KSU has a Top 10 ranking in the AP or USA Today final poll —> $420,000
  • If KSU wins the National Championship —> $480,000

Basically, there are eight levels of achievement, and Weber will receive an increasing percentage of his $1.5 million salary  as a bonus based on what the team does. For example, if the Wildcats go 10-8 in the Big 12 or go to the NIT Weber gets a 4% bonus, if the team gets an NCAA bid he gets an 8% bonus, etc..

Alas, the percentages are not cumulative, but there is definitely potential for some major additional money for Weber. If Kansas State achieves at the level it did this season, Weber would earn $1,620,000 in his first year.

Since Weber’s salary increases each year he coaches here, his bonuses increase also, since they are calculated as percentages of his salary. He can also earn bonuses based on the academic performance of the team and whether he is selected for coach of the year awards.

If Kansas State wins the Big 12 tournament, gets a 1 or 2 seed in the NCAA tournament, or gets to the Sweet 16, Weber will have the opportunity to renegotiate his contract. He could also do that if he is named the Big 12 or National Coach of the Year.

One last note: Weber’s contract is technically 5 years and 29 days – from April 2, 2012 to April 30, 2017.


2 Responses to “Money Money Money: Coach’s New Contract”

  1. Tommy-P April 2, 2012 at 2:11 am #

    Just found you. I like the page. I have added it to my favs. I bleed orange and blue but K-State is my new 2nd favorite team. Bruce is a solid leader and will do right by K-State. You will find out soon. Just sayin.

    Re: page, well done!

    • Ashley Dunkak April 2, 2012 at 5:33 pm #

      Glad you like the page! I am happy to hear some positive feedback about Coach Weber. There is some skepticism around here – at least what I have seen on Twitter and the like – but I personally am more than willing to wait to judge until the games start being played. My first impression of him (his introductory press conference) was certainly a positive one.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

%d bloggers like this: