The University of Missouri has given head football coach Gary Pinkel a contract extension that will pay him a guaranteed annual increase of $100,000 per year. Pinkel’s assistants will also receive a bump in pay. Pinkel’s new agreement runs through the 2020 season.
Director of Athletics Mike Alden held a press conference Thursday morning at Mizzou Arena to confirm the announcement and share details of the extension. Alden pointed out that the University of Missouri athletic department is completely self-sufficient and is responsible for not only covering the financial obligations of Pinkel and his staff, but he points out the department continues to support other areas of the university.
AUDIO Mike Alden on the athletic department (2:30)
The highlights of the agreement:
–Pinkel’s guaranteed base salary will increase from $2.8 million to $3.1 million through 2020.
–Pinkel is also allowed to withdraw $300,000 each year from a deferred account that was set up for Pinkel in a previous contract.
–Assistant coaches pool increased from $2.66 million to $3.2 million. Coach Pinkel decides how that pool is divided among his coaches.
Watch as Mike Alden answers whether or not the university took a wait and see approach with the 2013 season before moving forward with an extension.
–There are contract incentives built in ranging from academic to on the field success as well as a bonus for exceeding ticket sales. Some of the key bonuses include:
$50,000 for a top 25 BCS finish
$100,000 for a top 10 BCS finish
$100,000 for Coach of the Year Award
$100,000 to play in the SEC Conference Championship
$200,000 for an SEC Conference Championship
$200,000 for a playoff bowl appearance
$400,000 for playing in the national title game
$50,000 for 9 wins in a season
$100,000 for 10 wins
$150,000 for 11 wins
$200,000 for 12 wins
$250,000 for 13 wins
$400,000 for 14 wins
Pinkel’s maximum incentive payout could reach as high as $1.825 million per season.
Pinkel is coming off a Cotton Bowl victory and 12-win season that saw him become Mizzou’s winningest coach. Since 2007, Mizzou is the only program in the country to rank in the top-10 nationally in wins and rank in the top-five in both Academic Progress Rate and first round NFL draft picks.
“I’m very honored and proud to be the coach at Mizzou,” said Pinkel in a statement. He was not in attendance at Thursday morning’s press gathering. “I’m pleased that my assistant coaches continue to get recognized for the work they do. We are fortunate to have a great staff at Mizzou.”
If Pinkel chooses to leave the program before the end of his contract, there is a $500,000 buyout. If the university cuts ties, there is a $350,000 buyout on each of the remaining terms of the contract.
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