New Orleans, Louisiana 2021-11-30 20:45:00 –
Brian Kelly’s salary for new LSU football coach will increase to $ 10 million a year by the end of the contract in 2031, and his base salary will be higher than incentives, according to a termsheet obtained by The Advocate through public records on Tuesday night. Can also be high. request.
Kelly’s salary starts at $ 9 million during his first season. It gradually rises throughout the 10-year contract. The transaction, signed by Kelly on Tuesday on his way to Baton Rouge, requires approval from the LSU’s supervisory board and is pending background checks.
In addition to the usual performance incentives (Kelly wins $ 150,000 if LSU wins the Southeastern Conference Championship and $ 500,000 if he wins the national title), Kelly’s salary will be even more successful. Will increase.
After the introduction of LSU’s first SEC Championship Game, Kelly’s annual reward will increase by $ 250,000 for the rest of the contract. And if LSU wins the national championship, his base salary will increase by another $ 500,000 on the remaining transactions.
Kelly’s term sheet also includes a clause indicating that he and LSU will discuss more incentives if the College Football Playoff expands to more than four teams.
Other incentives built into Kelly’s contract include paying $ 500,000 a year and buying a home within 30 miles of the LSU campus to cover Kelly, as long as you’re an LSU coach on July 1. Includes interest-free loans of up to $ 1.2 million to make. Acquisition at the undesignated Notre Dame.
LSU also provides Kelly with 50 hours of private flight travel per year and relocation allowances to assist in traveling from Notre Dame.
If LSU fires Kelly for no reason, the school is obliged to pay him 90% of the remaining salary. However, if LSU fires him for no reason after Kelly wins the national championship, he is obliged to pay the full amount of his remaining salary and proportionally distributed longevity bonus. LSU does not have to pay Kelly if he dismisses Kelly for good reason.
There is also a contract between Kelly and athletic director Scott Woodward.
If Kelly leaves LSU while Woodward is still an athletic director, Kelly will have to pay the school. He will borrow $ 4 million next year, $ 3 million in 2023, and $ 2 million in the other years remaining on the contract.
See full details of contract between LSU and new football coach Brian Kelly | LSU Source link See full details of contract between LSU and new football coach Brian Kelly | LSU