Saturday, October 8, 2011

Dantonio receives new contract from MSU

MSU may not be playing today, but they're still making some news. MSU announced a new contract for Mark Dantonio today. I'll spare you all the release quotes, which can be seen here.

Here are the details of the contract from MSU.

Fifth-year Michigan State head football coach Mark Dantonio, who led the Spartans to a school-record 11 wins last season and a share of their first Big Ten Championship in 20 years, has been rewarded with a new contract, according to a joint announcement made Saturday, Oct. 8 by MSU Athletics Director Mark Hollis and MSU President Lou Anna K. Simon. Over the last two seasons, Michigan State has won 15 of its last 18 games.

The length of the contract remains the same as the previous agreement – a five-year roll over deal. Under the new terms, his base salary increases from $618,000 to $650,000. Some of Dantonio’s performance incentive bonuses have been restructured, including the addition of a $100,000 bonus for winning the Big Ten Championship Game. The payout date of his $2 million contingent bonus has been move up two years, from 2016 to 2014. In addition, Dantonio has been presented with the opportunity to work for the Athletics Department for two years after he retires from coaching, and the buy-out provisions of the contract have been modified.

Under terms of the new contract, Dantonio’s annual compensation increases from $1.8 million to $1.83 million.

Here are the annual compensation components of the new contract:

• $650,000 base salary
• $869,000 supplemental income
• $100,000 shoe/apparel agreement
• $200,000 contingent annual base
• $13,000 benefits

No comments:

Post a Comment