Take into account that this blog is for the Marquette fan base so some of the verbiage is of course negative towards the deal but it does have some interesting touches, especially regarding his ability to buy out of the contract.
$2.3 Mil to start with as had been reported, with $100K raises annually.
Rolling contract year on year if he is still employed at the end of June 2017.
If he is not fired "for cause", its going to cost Tech essentially the entire deal, which is not unusual necessarily, although they did not include what verbiage defines "for cause" in their write up.
VT will pay however much is left on the contract from date of notice
- 18.2 million in first year
- 15.9 million in 2nd year
- 13.5 million in 3rd year
- 11 million in 4th year
- 8.4 million in 5th year
- 5.7 million in 6th year
Buzz buying out his contract would be $7mil this year but it basically is chump change after that.
- $7 million in first year
- $3.5 million in 2nd year
- $1.5 million in 3rd year
- $900k in 4th year
- $500k in 5th year
- $250k any year after
Additional Compensation
- 2 cars replaced annually
- Up front costs to join Blacksburg Country Club
- 12 tickets to home basketball and football games
- 24 tickets to ACC Tournament and NCAA Tournament games.
- 2 seats on the team plane for away games/tourney games
Buzz Bonus Structure
Bonuses
50k for winning the ACC or conference with which the University is affiliated
25k for winning conference coach of the year
25k for winning national coach of the year
Tournament bonuses (only one may apply)
25k for making NCAA Tournament
50k for making Round of 32
75k for making Sweet 16
100k for making Final Four
150k for winning the championship
Academic Bonuses
50k for APR score 960 or higher
15k for team GPA of 2.6
20k for GPA of 2.75
25k for GPA of 25k (obviously a typo but I dont know what the number is) My guess would be 2.9 GPA.
The most surprising part to me in this write up is that Buzz only secured $725K to split amongst his three assistant coaches. Its not a horrible number but I would have thought with his salary, it would have been closer to 1.25 mil. Hopefully this doesnt become an issue down the road.
http://painttouches.com/2014/05/14/buzz-williams-virginia-tech-contract-...
Comments
It's always interesting to see how these contracts are structured. Some might have concern over the low buyout for Buzz, but I figure that if he gets us to a good place and uses us as a stepping stone, then we'll find a solid replacement. If he doesn't, then we probably can't get there anyway. Either way, I look forward to the next few years of Hokie basketball. This first recruiting offseason has been fun, for sure.
From that article, I present Buzz Williams' signature
Related pic of Buzz:
Just the little I know of Buzz, and from his reputation, I'm not at all surprised that would be his signature.
I can tell you one thing... when he is signing merchandise for fans, his signature is very much more neat and legible than that
Maybe he signed the contract while the Hokie Jet was being refueled between recruiting visits.
Looks like Chicken Scratch...........
I would have thought they would have asked Buzz to sign the contract OUTSIDE of Lane Stadium...
http://latenighthoops.com/buzz-williams-virginia-tech-finalize-contract/...
This link regarding Buzz' contract points out the deal sealer.
This essentially gives Buzz the ability to make some serious cash to make up for the "pay cut" he took to come to Tech.
The buyout gets comically cheap late in this deal. Based upon any contract he could get after us, you'd have to think he's as good as gone after year 3 should he have any success here.
I think he'll be here five years at least. Looking at it realistically, we all SHOULD understand that this first season will be focused on constructing the foundation. Second year, we'll get a real picture of what he can accomplish. Years 3-5 will be about proving what he built here. After that, it will be gravy for us & him. For him to leave within three years would indicate he does not have a working relationship with Whit. I think time will prove the opposite. I am certainly not foolish enough to think he'll retire at Tech, those days are long gone, and the game has changed. I do think we'll get at least five years from him, and for me, that is fine. More would be better, but that will be fine.
With the work he has been doing as recruiter and his history as a good coach, Buzz is worth the money. HE WILL AWAKEN THE SLEEPING GIANT.
Is winning the ACC defined as the regular season or the tournament? I am surprised they are not 2 separate bonuses.