Advertisement

Advertisement

Originally published August 6, 2008 at 03:25p.m., updated August 6, 2008 at 04:50p.m.

Self signs new contract at KU

Advertisement

Kansas University men's basketball coach Bill Self has signed a new 10-year contract that will pay him $3 million per year, KU announced today.

The agreement begins retroactively on April 1, 2008, and expires in March 2018. Self's prior contract had three years remaining (expiring March 2011).

Self's compensation package comes from private resources. No tuition dollars or state funds are used.

Under the new contract, KU Athletics will pay Self an annual salary of $229,900, unchanged from the previous contract. The compensation package also includes an annual payment of $2,270,100 for professional services, which may include educational, public relations and promotional duties as assigned by the athletic director.

Such duties could include the production of any radio or television shows, internet features or Self's occasional endorsement of products affiliated with and approved by Kansas Athletics or its marketing partner(s).

Additionally, the compensation package includes a retention agreement that pays Self $500,000 for each year during the contract that he serves as Kansas' head coach.

The contract also includes several provisions for incentives that could total as much as an additional $425,000 in any one year.

Self's prior contract paid him an annual total of $1,610,600.

"We are thrilled that Bill will be our coach for years to come," said KU athletic director Lew Perkins. "He has done a tremendous job leading the Kansas men's basketball program both on and off the court. There's no one I'd rather have at the helm of the Kansas program."

Self said: "I'm very thankful to Chancellor Hemenway and Lew for the confidence they have shown in me. I have said many times that I cannot imagine a better place to play, or to coach, than the University of Kansas. My family and I look forward to being part of the Kansas and Lawrence communities for many years to come."

The bottom line with the contract is it gives Self the security he desires. He had said after the season years were important to him.

"I had no problem with it. We want him here 10 years," Perkins stressed of the length of the deal, which has no buyout clause if Self ever decides to leave KU.

Perkins said he believes the new deal makes Self one of the top five paid coaches in the country, but there's no way of telling for sure with so many complicated clauses and incentives in contracts. Published reports indicate Florida's Billy Donovan tops the list at $3.5 million a year. If all of Self's contract incentives are met, he'd make $3,425,000 per annum.

"We never discussed it," Perkins said of comparing Self's dollars to other coaches' pacts in contract discussions.

Published reports had Texas' Rick Barnes as the Big 12's previously highest paid coach at $2 million a year.

Kansas football coach Mark Mangino recently signed a contract extension that will pay him $2.3 million through 2012.

Previous Self Contract

Current term: April 1, 2006 - March 31, 2011

Base salary: $229,900

Professional Services: $1,155,700

Retention Payment: $225,000

Total: $1,385,600 + $225,000 = $1,610,600.00

Incentives:

Final 4: $100,000

NCAA Championship: $200,000

Big 12 Regular Season Championship: $50,000

Big 12 Tournament Championship: $25,000

Associated Press Coach of the Year: $50,000

New Self Contract*

Term: April 1, 2008- March 31, 2018

Base Salary: $229,900

Professional Services: $2,270,100

Total: $2,500,000 + $500,000 = $3,000,000

Retention Payment: $500,000 (guaranteed after taxes) per year**.

* Incentives remain the same

** Earned only if remain each year. Paid out in 5 year increments. Current retention agreement is in place until 2011. A second retention agreement on the same terms will be earned for remaining each year during the second 5 year period.

More details to come.

Comments

jerhawk 5 years, 8 months ago

he can recruit w/ the best of them, x and o- hes a master. i think were going to be in store for more nat'l championship banner. its great!

0

jhwkfan162515 5 years, 8 months ago

Memo to Bill Self: Don't go to the NBA. The players there have no respect from their coaches. And as you see with Detroit and Flip Saunders, one bad season and you get the axe. Or ask your mentor, Larry Brown, about how well he was treated by the Knicks.

0

Timmay97 5 years, 8 months ago

Jhwkfan........Perkins got the money from T Boone Pickens to pay Self. :-) Congratulations to Bill Self. I had my doubts after two first round losses in the tournament....... I will doubt you no more. You can recruit AND coach! Note to Xavier Henry: The time is right. Just freakin' commit! Self is going nowhere and Memphis is going through some tough times now with the NCAA's.

0

jhwkfan162515 5 years, 8 months ago

HOLY TOLEDO! That is a boatload of money! Where does Lew Perkins come up with all this dough, anyway?Go Bill Self! Go Jayhawks!

0

ralsterKUMed95 5 years, 8 months ago

SWEET! I am happy for Bill Self. We just got back from OKC over the weekend (including Edmond, his hometown), and although I was the only one in a KU t-shirt, I heard a lot of pride in Self even in OU/OSU territory. This is fabulous--a midwest guy, not going to run off to another college (cant imagine...), with his only other move possibly to NBA someday? And HOORAY for my fellow KU Alums out there--all this without public/student monies (that matters to some people). Proud all the way around about this. Well deserved!

0

Dan Harris 5 years, 8 months ago

Congrats to Coach Self and a big WAY TO GO LEW!

0

LAJayhawk 5 years, 8 months ago

"There's no one I'd rather have at the helm of the Kansas program."Me either.jhawkclassof02, it's rather confusingly written, but his salary is $2.5 mil plus $500k retention for a total of $3 mil a year. The incentives total $425 k (he almost hit them all last year for $375,000!), so if he earns all of them his total would now be $3,425,000 for the year.Of course, the cash in hand gets a little more confusing considering the retention is apparently guaranteed after taxes.Regardless, the man is doing well for himself... and us.

0

Fortesque Beagleton 5 years, 8 months ago

I'm confused. Is his new salary $3mil or $3.5mil (retention payment?). Not that it matters. The man is gettin PAID. He's RICH Beeyotch! Oh, and worth every penny.

0

Lance Hobson 5 years, 8 months ago

Congrats coach! Can I borrow $10?

0

JJHAWK 5 years, 8 months ago

Can't hurt recruiting when recuits know Coach has a ten year contract. Plus, having the head guy for KU Basketball being one of the highest paid college coaches in the nation certainly sends a message that we are serious about our basketball.Leo Durocher was wrong on this one, nice guys don't always finish last.Congrats Coach. Well deserved!PS: In the last month I have had a couple of Mizzou fans lament to me about their athletic department's choice of Qiunn Synder over Coach Self. How sweet it is!

0

jayhawkliz 5 years, 8 months ago

Congrats Coach Self and I look forward to many more National Championships! I hope!

0

Michael Pannacciulli 5 years, 8 months ago

Part of any negotiation is leveraging all you can (i.e. OSU). but once the deal is done and signed you have to (and this is for both parties) live with the terms and play by the terms set forth. I do not sense a Rich Rodrriguez situation here, but if so, at the end of the day Bill will get his and you can be damn sure KU will get theirs. KU got theirs TEN FOLD when Roy left by getting Bill. I do believe that. He will be worth his weight in gold for KU for at least another decade, hopefully more.

0

chicagoeddie 5 years, 8 months ago

congrats coach! can i get a loan? hahahah~ just kidding. youve been a great coach and cant wait to see a building named after you. =) welcome to your official new home! rock chalk!

0

LHS1980 5 years, 8 months ago

I don't care who you are...

0

jerhawk 5 years, 8 months ago

Self is special, indeed- worth every penny

0

Larry Smith 5 years, 8 months ago

Mike Blur,Actually, Coach Self never listened to any offers from OSU. He made it pretty clear from the start that he had no intention of leaving KU. He felt that he owed it to his alma mater to at least turn them down face to face. That is the only reason he even allowed them to come see him. Money was never even discussed, so there was never an offer to weigh, or use as leverage. No blinders on here, just the facts.

0

Kevin Kelly 5 years, 8 months ago

I know he coached KU to a national championship....but what's he done since then????That's good sarcasm right there...

0

sevenyearhawk 5 years, 8 months ago

That's right ... dollar signs - thirty million of 'em!!!

0

kansaspike 5 years, 8 months ago

There have to be guarantees on facility upgrades....I'm curious to see those plans.

0

Mike Blur 5 years, 8 months ago

Keith...just a few months ago, Bill listened to offers from O-State after KU won the NC. He used it as leverage in this negotiation with Lew. Take your blinders off, dude.

0

KEITHMILES05 5 years, 8 months ago

Hey Mike.........Bill is not the kind of individual Roy is.You are not comparing apples to apples.In Roy's defense his contract was a rollover type and he didn't have a set year to year date. So, technically he didn't "break" anything.It's very petty to bring up the poison pill issue in this case.Just leave it alone and enjoy.

0

Joe Ross 5 years, 8 months ago

congrats to coach self! thanks lew!

0

kansaspike 5 years, 8 months ago

Welcome to the Golden Era of KU Hoops.

0

Jeff Worthington 5 years, 8 months ago

Gotta love Bill Self, he's a life-er. We'll never fire him, and he'll never leave us for another school. Good job Lew, Bill, and Hemenway. Let's go get some more hardware!

0

5 years, 8 months ago

This is great news. The best part is jaybate can now put his conspiracy theory to bed, and rest easier when he is penning his always passionate and sometimes controversial 3am novella-like posts :o)

0

bg97 5 years, 8 months ago

And he's worth every last penny.

0

William Cormode 5 years, 8 months ago

SO now how long will it be till Mark gets another contract to pay him more than Bill so that Bill can get a new contract that pays him more.

0

Mike Blur 5 years, 8 months ago

Any buyout clauses, or poison pills should HCBS be wooed once again by Okie State? (Orothers?) I'd love for Bill to be HC for the length of the contract, and possibly beyond, but something like a $20 million "poison pill" inserted into the contract language would benefit Bill, the team, the athletic department, and alumni and fans.Roy broke his contract with us in 2003, and KU didn't receive a single penny in compensation.

0

Jayhawks2223528808 5 years, 8 months ago

Long live Bill Self...here's to cutting down nets for many years to come!!!

0

Commenting has been disabled for this item.