Financial Details of Mike Anderson's Deal With Arkansas Razorbacks Released

by Chris Bahn  on Saturday, Mar. 26, 2011 6:32 pm  

New Arkansas basketball coach Mike Anderson leads fans in a Hog Call. Anderson was announced Saturday as the new Razorback head coach. (Photo by Mark Wagner)

This story is from the archives of ArkansasSports360.com.

Arkansas Coach Mike Anderson will be paid $2.2 million annually over seven years, according to the memorandum of understanding signed by Anderson on March 23 and released Saturday by the school.

It puts him among some of the highest paid coaches in the country, something he said doesn’t put additional pressure on him.

“I like to win. Period,” Anderson said. “Let’s put it that way.”

Other items of note within the nine-page memorandum of understanding:

•Should Anderson leave Arkansas, he is subject to a $1.5 million $1 million buyout per each remaining year on his contract. Partial years are prorated.

•As with his Missouri contract, Anderson must submit a request in writing if he wishes to pursue another job. Plus, his agent cannot pursue another job on his behalf without submitting a request to the UA.

•Anderson is not allowed to seek employment at another school within the SEC.

•Included are a number of athletic and academic incentives. Anderson could earn up to $700,000 in bonuses in a season. Those numbers are detailed below:

SOUTHEASTERN CONFERENCE ACHIEVEMENT INCENTIVES*
SEC Overall Regular Season Championship $100,000
SEC Tournament Championship $50,000
*These SEC Achievement Incentives are cumulative.

NCAA ACHIEVEMENT INCENTIVES++
NCAA Tournament First Round $25,000
NCAA Tournament Sweet 16 $50,000
NCAA Elite Eight $100,000
Final Four $200,000
NCAA National Title $400,000
++These NCAA Achievement Incentives are non-cumulative, and coach shall be entitled to the highest payment.

COACHING ACHIEVEMENT INCENTIVES##
SEC Coach of the Year $25,000
National Coach of the Year $25,000
##These Coaching Achievement Incentives are cumulative, and the National Coach of the Year as awarded by an organization determined by the University. Any athletic achievement incentive compensation shall be paid consistent with the payment policies of the Athletic Department and the University and state law.

ACADEMIC ACHIEVEMENT INCENTIVES
Academic Performance Rate
930 $25,000

950 $25,000

970 $25,000

990 $25,000
CUMULATIVE TOTAL $100,000
Each of the foregoing amounts for each academic achievement shall be cumulative and shall be paid consistent with the payment policies of the Athletic Department and the University.

ArkansasSports360.com will update this story.

 

 

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