I think we've only seen the high level details so far. This Roanoke Times article outlines things a bit more.
Highlights:
- Pry's annual salary will start at $4 million for the first two years, go up to $4.75 million for 2024 and $5 million in 2026
- $25,000 for playing in the ACC Championship
- $50,000 for a bowl game appearance
- $25,000 to $100,000 based on the team's single year Academic Progress Rate score
- Suite for each home game that includes 18 tickets
- Two new automobiles (to be replaced every two years)
- Membership to the Blacksburg Country Club and moving expenses
The annual budget for the team's assistant coaching pool ($5.5 million) and support staff ($2.25 million) is written into the letter of intent. The school also agreed to increase that budget if the team wins eight or more games. The budget would go up $200,000 for an eight-win season, $300,000 for a nine-win season, $400,000 for a 10-win season and a $500,000 for an 11-win season.
Buyout:
The buyout is set at 70% of Pry's remaining salary — he would only get 50% of his pay for the final year of his contract, but that number can increase to 70% if the team wins nine games during any portion of the deal — if the contract is terminated without cause.
How it compares to Fuente's second contract:
2018: $4 million
2019: $4 million
2020: $4.25 million
2021: $4.25 million
2022: $4.5 million
2023: $4.5 million
2024: $5 million
ACC Coach of the Year: $25,000
National Coach of the Year: $50,000
ACC Championship: $50,000
College Football Playoff appearance: $125,000
National Championship: $250,000
Buyout:
2019: $15 million
2020: $12.5 million
2021: $10 million
2022: $7.5 million
2023: $5 million
2024: $2 million
And it looks like the fringe benefits are similar (cars, country club, etc)
Comments
In his first interview with Burnop and Laaser, there's a funny little nugget about his contract when they were talking about Tech's facilities. Pry said he used to park his old jalopy where the indoor practice facility is to which Burnop says (and I'm paraphrasing), "And now you've got a new jalopy." And then Laaser chimes in with, "...and it flies." Classic.
TL;DR:
Love the increasing salary pool for # of wins. We'll be able to create new support staff positions/more competitive assistant salaries every year if we are hitting the goals this program believes it can be achieving on an annual basis.
I was wondering if that was for new hires or if that was basically a "bonus pool" for support staff and assisstants.
Agreed. It shows some recognition that we have to keep up with the Joneses and not wait until we're dead last to raise the assistant coach pool. Nice to see some forward thinking.
Any stipulation as to when Year 1 actually starts? Sorry to beat a dead horse, couldn't resist
My understanding is that the last year of the contract typically counts as "Year 1". Every year of the contract before the last year is considered "Year 0". Hahaha
In all seriousness though I would say probably not until 2023 season. I think next year could be a throwaway, and I will be happy if we manage 6-6 again next year given the circumstances.
A few take-aways:
1) Improvement in buy-out language, after all it's intended to compensate for loss of earnings. That 50% number will probably never matter as school will probably always keep 3+ years under contract for recruiting optics.
2) The idea of increasing assistant pool based on performance is good. However, it seems a bit ambiguous if the increase is $200k for each pool or combined
Questions:
What is the buy-out if he decides to leave?
Is there a reason why country club fee is important enough to be included here? I assume this is included because it's a sponsorship by the country club so they stipulate it for marketing purpose?
I think the cars and the country club thing is more or less standard these days for a HC position. Pretty sure that was included in Fuente's contract.
I assume the cars are leased though, so I guess Fuente had to turn those in when he left.
I could be wrong on this, but my understanding is that Shelor leases the cars to Tech -> Pry.
Yeah, the cars and country club were included in Fuente's as well. I added a few details above from Fuente's contract for comparison
They were also in Beamer's contracts as well
Bitter tweeted that the salary pool increases were non cumulative. I'm assuming that they would apply every year tho? So win 11 games two years a row and get 1 million more then the base salary?
I assume by non-cumulative he means if you win 10 games you get a salary pool increase of 400k, not 900k [200k (8 wins) + 300k (9 wins) +400k (10 wins)]
My guess is zero, because there is an offset. Typically, schools don't get both a buy out and an offset.
Edit:
Per the comment linked below, "If Pry were to leave on his own, his buyout it low."
Bitter tweeted that there is buyout language for Pry - posted in the other thread.
https://www.thekeyplay.com/comment/1102786#comment-1102786
$2M for termination by coach honestly seems low considering the direct damage on recruiting, other coaching staff and long term planning.
I don't really think so for a first time head coach. If he jumps ship in a few years then that means he has been very successful and will be leaving the program in a much better shape.
How many spurtles does he get for the new house? What about a tac shaver for use in the country club pool?
He's gonna need some HD glasses for those lights during night games too.
I know it's peanuts in the grand scheme, but it seems that playing in the ACC championship should pay more than a bowl appearance. If you get to the former, the later is a given. Why not make it the priority to incentivize? A bowl for an ACC championship contender is bound to be better for the school than any generic lower tier bowl.
Do the conference share the revenue from the ACC championships or does it only go to the two participating teams?
I'm fine with this setup. On one hand, you want to give higher incentive for tougher goals; but on the other hand, you also need to weigh how much control the employee has. I think the coach does have a little less control when it comes to the chance of a championship - how well Miami/UNC perform, who you draw as your Atlantic opponent, etc.
I do think it makes sense to have a higher incentive for NY6 bowls.
I look at it that playing in the ACC championship gets him $75K - $25K for the championship, plus $50K for the follow-up bowl. Playing in a bowl game without the ACC Championship only gets him $50K. So one could say the ACC championship bonus is $75K, while just a bowl game gets him the lesser $50K..
We offered CBP all of our annual ACCN revenue sharing...but he said he didn't want to take a pay cut. /s