Search This Blog

Tuesday, April 18, 2006

Details of John Calipari's New Contract

No shockin U of M contract Calipari's raise spread several different ways

By Gary Parrish, Memphis Commercial Appeal
April 18, 2006

Compared to the back-and-forth of last week, the actual amendment that brought closure to University of Memphis basketball coach John Calipari's flirtation with North Carolina State is uneventful. There are raises across the board, yet nothing out of the ordinary was found when The Commercial Appeal reviewed a copy of the contract Monday.

The main origins of pay increase come from Calipari's UofM base salary, radio and television package and public relations fee. The base salary went from $139,050 to $155,000, the radio and TV package went from $310,000 to $460,000 and the public relations fee went from $251,000 to $385,000. Combined with a $300,000 guarantee in shoe/apparel/equipment money, the promised total package Calipari will receive annually comes to $1.3 million, not including various incentives, bonuses and the opportunity to secure additional shoe contract money. For instance, Calipari -- per this fifth amendment to his contract originally signed on March 11, 2000 -- is now allowed to negotiate a shoe deal with any company and keep all the income. Previously, he shared the revenue with the school. Next year, that money – from adidas -- is expected to be $225,000, meaning Calipari will at least earn $1.525 million while coaching the Tigers for a seventh season. Beyond that, most everything stayed the same, including the $2.5 million annuity Calipari will collect if he finishes the 2009-2010 season. The only notable difference is that he dropped a percentage of his win/loss record and graduation rate bonuses so that, if achieved, $40,000 of those bonuses will now go to his assistants, who had spent the past few seasons underpaid in comparison to assistants at other programs.
Calipari negotiated an additional $130,000 in salary for his assistants that he will divide among Tony Barbee, Derek Kellogg, John Robic and Milt Wagner as he sees fit. They will also divide $40,000 in summer camp guarantees.

Calipari's new contract runs through the 2010-2011 season, and the UofM reserves the right to offer two one-year extensions over the next two years.

Calipari's buyout remained at $200,000, and his annual clothing allowance remained at $15,000.

-- Gary Parrish: 901-529-2365

No comments: