Minnesota's contract extension with coach Tubby Smith includes more incentives, a slight annual pay bump and a higher buyout the university must pay if he's fired after next season.
Smith's three-year extension through the 2016-17 season was finalized on July 23, and the school made the details available to reporters on Friday.
The 61-year-old Smith has the same annual pay structure, now close to $2 million annually, with a $600,000 base salary plus 5 percent annual raises he's been entitled to since 2008 and supplemental compensation of $1.2 million for duties like fundraising, community involvement and endorsements.
That figure is before any bonuses and excludes perks, benefits and the university's retirement contribution that are part of his contract. If Smith's deal is terminated between now and April 30, 2016, the university will pay one-half of his base salary and supplemental compensation for each of the remaining seasons on the contract. The total amount cannot exceed $2.5 million.
Under the terms of his original deal, Smith was to be paid $1.5 million if he were to be fired between now and April 30, 2013. But in another new wrinkle in the extension, he can't be dismissed without cause during the season, defined as the span from the date of the Gophers' first game through the date of the last. The extension also calls for a postseason review of the contract next spring.
Also, if Smith wins a Big Ten regular season championship, a Big Ten tournament championship or reaches the round of 16 or further in the NCAA tournament in any given year, his deal will be automatically extended by a year.
Smith and school officials talked for about a year and a half before finishing the extension, and one of the reasons they took their time was sensitivity toward the public perception of such a lucrative deal during a time of tight budgets, rising tuition and employee layoffs.