No lack of incentive
Izzo's contract loaded with performance bonuses
Posted: Friday March 31, 2000 02:38 AM
EAST LANSING, Mich. (AP) -- Michigan State coach Tom Izzo has an incentive-laced contract that will make him the biggest winner financially among the four remaining head coaches in the NCAA tournament -- even if the Spartans don't win a game in this weekend's Final Four.
Izzo's contract has already earned him $126,750 in bonuses this year and could balloon to $175,500 if the Spartans win the national championship, the Lansing State Journal reported Tuesday.
"That's going to be a ... bit of vacation money," Izzo said Thursday. "And we bought a new house, so I guess I'll put some of it toward that. This is nothing you can depend on. This doesn't happen all the time."
Izzo's annual base salary is $195,000. He is guaranteed another $530,000 in outside revenue -- from a shoe and apparel contract, television and radio shows and basketball camps -- which brings his package to $725,000 annually.
Izzo received a $19,500 bonus for winning the regular season Big Ten championship. He also got bonuses for winning the Big Ten tournament, for making the NCAA tournament, and for advancing to the Sweet 16.
Izzo made $19,500 for making the Final Four and will get $48,750 if the Spartans win the national championship Monday night.
By comparison, Wisconsin coach Dick Bennett received $14,621 for making the Final Four and will get $7,310 if he wins an NCAA title; Billy Donovan made $5,305 for taking Florida to the Final Four and would get $10,611 for an NCAA title; and Bill Guthridge of North Carolina who has a base salary of $164,440, gets $13,703 for making the NCAA Tournament, but nothing beyond that.
The Spartans meet Wisconsin in one semifinal game Saturday; North Carolina and Florida meet in the other.
Lansing-based agent Charles Tucker said the bonus money is important if the Spartans want to keep one of the hottest coaches in the country.
"It is real dangerous because NBA coaches are now getting paid $3 million to $4 million a year," said Tucker, who represents several NBA players. "The NBA is looking for great college coaches. And it is a known fact they are going to leave if they don't get a raise."
Tucker also said big incentives are a way to get around renegotiating every year.