Two-Minute Drill: Breaking Down Urban’s Contract
By Brandon Castel
COLUMBUS, Ohio — Urban Meyer is one step closer to having his dream job, or at least the one he already has.
After agreeing to an initial contract with Ohio State back in November, Meyer and the University had to make some modifications when the school was hit with a postseason ban by the NCAA in January.
Ohio State released the new copy of Meyer’s official contract on Monday. It still has to be approved by the school’s Board of Trustees, but here’s a breakdown of Meyer’s deal with OSU.
Getting Ethical With It
* Meyer can be terminated immediately for failing to provide written notification of potential violations to AD and Compliance Office. This is different from Jim Tressel’s contract.
* Meyer can also be terminated for any act which brings himself or the University into public disrepute, embarrassment or scandal.
* Meyer can be terminated from Ohio State for placing or accepting a bet on any intercollegiate or professional athletic contest.
* Contract guarantees Meyer Ohio State has informed him of “all significant NCAA issues of which it is aware.”
* If any arise, Meyer can walk away and receive $1.5 million per year for the remainder of his contract.
Closer Look at the Fine Print
* Meyer's agreement with Ohio State will terminate automatically on Jan. 31, 2018, unless extended before then.
* If Meyer terminates contract w/o cause, he is contractually forbidden from contacting any recruits previously recruiting by OSU for 1 year.
* If Meyer takes another job with Division 1 school or pro football team within 12 months of resignation, he must repay $2 million to OSU.
* Meyer has sole authority to recommend hiring/firing of assistant coaches, but final decision made by the AD.
* Contract also gives AD the right to contract Ohio State's future schedules, with consultation of Meyer.
* Ohio State has exclusive right to select footwear and apparel/equipment for Meyer's team.
It’s All About the Benjamin’s
* Meyer's new deal, worth $4.44 million annually, makes him the 4th-highest paid coach in college football behind Saban, Mack Brown & Stoops.
* Stoops received a $75,000 bump in pay & $800,000 bonus in Jan. that put his annual salary for this year at $4.875.
* Meyer’s contract includes a $250,000 signing bonus and retention bonuses through 2018 that total $2.4 million.
* Meyer would receive an automatic one-year extension and $100,000 bonus for winning the Big Ten championship game. Since he can’t this year, he would receive the extension and a $50,000 bonus if Ohio State would have qualified for the game.
* Meyer can also earn an additional $150,000 bonus for reaching a BCS bowl game, and $250,000 for reaching the BCS National Title game.
* He will receive a $50k bonus for a team GPA of 3.0, $100k for a GPA of 3.3 and $150k for a GPA of 3.5, cumulative.
* Meyer will be paid $10,000 every year for making one appearance at a Coca-Cola Company function or activity.
* Ohio State only owes Meyer $15.37 million if it decides on a whim to fire him before Jan. 31, 2014. After that, it drops to $11,931,731.
OSU Statements on Contract
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