Dykes's Contract revealed

[T_Won]

http://www.thenewsstar.com/article/2...elde-and-Dykes

The Tech football coach’s contract is backdated to Jan. 20, and runs through Jan. 19, 2015. He will make a base salary of $200,000 from Tech yearly through 2015, similar to Dooley’s original deal as head coach, with an additional $250,000 paid annually through the Tech Foundation over the same five-year span.


Incentives for Dykes include $25,000 for post-season bowl appearances, conference title championships and for earning league coach of the year honors. He is also entitled to $150,000 should Tech make a BCS bowl appearance.


The deal stipulates that these supplements are cumulative, and are limited to a maximum of $225,000. Supplements relating to academic performance goals are not cumulative, and include $25,000 for a graduation success rate of 70 percent or more; $35,000 for 75 percent or more; and $45,000 for 80 percent or more. The cap for these incentives is $45,000. There are also supplements relating to the program’s Academic Progress Rate, as reported by the NCAA. Dykes is also allowed to keep any money obtained through operating football camps and from endorsements of shoe, apparel or equipment. He will have use of a vehicle, and “golf and social club membership(s) as typically provided to the head football coach.”


If he is fired without cause, Tech and its foundation must pay Dykes the remainder of his base salary. If he leaves prior to the 2014 season, he must pay a penalty of $800,000. Following a 24-month review period, the university can extend Dykes’ contract for an additional two years, according to the contract.

Thoughts?

[SixWings]

Not bad. 450k is about what I would've hoped for. I wish our post-season incentives were higher. I like the academic performance stuff.

[GermDawg]

Looks pretty good, 450,000 base, with the ability to make up to 270,000 for on-field & off-field perfomance, plus any money generated from endorsements or camps.

If you go by this list he'd be above 5 WAC schools on base pay.

http://www.americasbestonline.net/in...idcoaches.html

[FishingBack]

Nice use of incentives for both on-field and off-field performances.

Can anybody reveal the value of the free membership to the "clubs?" I assume it's Squire Creek.

[1L_dawg]

not trying to discuss ulm, but i couldn't help but notice this blurb in the linked article:

Berry is required “to participate in an appropriate number (not more than three unless mutually agreed upon with the athletic director) of non-conference ‘guarantee’ football games on an annual basis in order to generate necessary revenue.”

Wow. instead of trying to "wean" off of body bag games, ulm is requiring its HC to play these games to generate revenue.

[1L_dawg]

Nice use of incentives for both on-field and off-field performances.

Can anybody reveal the value of the free membership to the "clubs?" I assume it's Squire Creek.

roughly speaking, the value/cost of a squire creek membership, is 10-20K initiation fee, plus about 350-400/mth in monthly dues. So, for the first year, the value would be about 20-25,000 and about 5,000 annually thereafter.

[FishingBack]

roughly speaking, the value/cost of a squire creek membership, is 10-20K initiation fee, plus about 350-400/mth in monthly dues. So, for the first year, the value would be about 20-25,000 and about 5,000 annually thereafter.

That's a fairly significant perk.

[olddog75]

That's a fairly significant perk.

You do have to pick up the value of the perk as income for tax purposes, but paying tax on $5,000 in dues is much better than spending $5,000 in after tax dollars to be in a country club.

[arkansasbob]

the flat buyout is interesting. that means if he leaves before the last year of his contract, we get the full $800k. seems to favor us in that we can wait until his next-to-last year to decide if we want to renew/extend without risking anyone stealing him for cheap.

If he is fired without cause, Tech and its foundation must pay Dykes the remainder of his base salary

^ what does that mean? the remainder of what he is owed for the year in which he is fired, or the remainder of what is left on the contract?

[zharkins]

Sonny Dykes
Dykes'

please.

[arkansasbob]

Sonny Dykes
Dykes'

please.

actually, it should be dykes's. but you are right -- it should be fixed.

[StrayDawg]

not trying to discuss ulm, but i couldn't help but notice this blurb in the linked article:

Berry is required “to participate in an appropriate number (not more than three unless mutually agreed upon with the athletic director) of non-conference ‘guarantee’ football games on an annual basis in order to generate necessary revenue.”

Wow. instead of trying to "wean" off of body bag games, ulm is requiring its HC to play these games to generate revenue.

Jim Oakes had a similar requirement for Keith Richard in men's basketball. Oakes also controlled the football scheduling, and usually did this type of stuff with football too. I hope Jim is doing well with his life but, for Tech's sake, I'm glad those days are over.

[StrayDawg]

This seems like a pretty solid contract all the way around. People on this board have talked about attendance bonuses before, but maybe that incentive should be given to the ADs office. If Dykes stays until 2014 or longer, and can build on what Dooley started with recruiting, then we will definitely be going in the right direction.

Now, if we can just find some more money.....

[FishingBack]

Does anybody know the difference we will be paying Bruce? That is:

Bruce's new pay
minus Bruce's old pay
minus Dooley's AD salary

[DAIQUIRIDAWG]

I sure would have liked to seen a provision in the contract that whomever hired him away would have to come play us in the Joe within a certain number of years.