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Tuesday, December 7, 2010

Chizik has already earned $600K in bonuses, can make $750K more by end of season

Auburn head coach Gene Chizik is adding quite a haul of bonuses to his $2.1 million annual salary. Ahh, the beauty of a performance-based contract.

Chizik has already added $600,000 to his annual salary. Here's a breakdown:
$150,000 — Season with 13 victories
$100,000 — Playing in SEC championship game
$200,000 — Winning SEC championship game
$50,000 — Playing in an BCS bowl game
$100,000 — Being named SEC Coach of the Year
He might not be done yet, though. Chizik has a chance to add $750,000 more in bonuses by the middle of January. Here's a look at what he can still earn:
$50,000 — Additional money for reaching 14 victories
$100,000 — Being ranked in the top-five in the either poll after BCS title game
$100,000 — Being named National Coach of the Year
$500,000 — Winning a national championship
Chizik is also eligible for a bonus of $25,000, $50,000 or $75,000 based on the team's Academic Progress Rate. Those are released in June. He can also earn a performance-based bonuses "to be awarded at the University's discretion," according to his contract.

I'm guessing once all is said and done this season, both he and Auburn will probably look at renegotiating the whole thing.


Anonymous said...

Seeing Chizik's name and $'s when I first opened this page about made my heart stop. Glad it is a good story and hope he earns every bonus!

War Eagle AC-47 said...

He graciously took the job at a modest salary, and then left it up to the administration to pay him if and when he produced results on the field. So he produced results.

He and the assistants deserve everything they have earned plus hefty raises to keep them. What they did this year was remarkable. They are a great team and it sure would be nice to keep them together for awhile.

This is what money is for. If you have it, this is why you spend it.

RW said...


postermom said...

What's an SEC bowl game?

postermom said...

And do the assistants get bonuses?

Andy Bitter said...

Should have been BCS, not SEC.

MikeP said...

War Eagle AC-47 nailed it above.

The assistant's bonuses may not be public, but rest assured they will get a bonus, plus some hefty raises. Again, well deserved.

Anonymous said...

Why do you think both will want to renegotiate? Chizik gets his money and Auburn gets results. I'd think both would be ecstatic with the way it worked out?

Anonymous said...

He deserves every bit of it. I also hope all the staff stay together. They have done very well. WAR EAGLE!!! I do hope the assistants get bonuses too.