AUBURN, Alabama–Bruce PearlAuburn’s new long-term contract, which takes effect May 1, is heavy on performance bonuses for the Auburn basketball head coach and even heavier on financial incentives for him to honor the full contract. agreement which runs until April 30, 2030.
Pearl, who is in his eighth season at Auburn, signed the contract which runs for another eight years starting at $5.4 million per year with an increase of $250,000 per year.
His income breakdown is $250,000 per year as base salary plus $2,575,000 per year for endorsement fees and the same amount for personal appearance payments. Fees for rights and amounts for personal appearances each increase by $125,000 per year, while base salary remains unchanged.
If Pearl leaves his job between May 1, 2022 and April 30, 2023, he will owe the university $10 million. If it happens the following year, it would cost $8.5 million. For the following year, it would drop to $7 million, and then increase to $5.5 million between May 1, 2025 and April 30, 2026. The amount owed is $4 million if he leaves anytime between May 1, 2026 and April 30, 2020.
The contract includes a variety of potential bonuses each year. These include:
* $100,000 for winning the SEC Regular Season Championship.
* $50,000 for winning the SEC Tournament.
* $50,000 to be SEC Coach of the Year.
$50,000 to do the NCAA Tournament.
* $50,000 for reaching the NCAA Sweet 16 Tournament.
*$100,000 for reaching the Final Four.
*$100,000 for reaching the national championship game.
* $200,000 for winning the national championship ($600,000 combined total for NCAA tournament bonuses in one season.)
* $50,000 for winning the Naismith Foundation National Coach of the Year Award, United States today, the Associated Press or the National Association of Basketball Coaches.
*Up to $75,000 per year for Auburn player academic achievement.
*The university will provide two new vehicles each year and pay the expenses related to their operation.
*Each season, the coach will receive 20 home basketball tickets (10 in the purse section), 20 tickets to NCAA tournament games involving the Tigers as well as eight tickets to home football games with the right to buy four more. The deal also includes four tickets to bowling matches as well as two parking spots for home football matches.
* The agreement provides membership in the Auburn-area country club.
* The university will continue life insurance payments on a policy with a $3 million death benefit.
Three pages of the 19-page document detail the responsibility of Pearl and its staff to comply with NCAA rules and university policies. Failure to do so could result in pay cuts or termination of employment for cause.
If the university decides to fire the coach for “other than cause”, Pearl would receive 50% of the remaining payments he would have received by April 30, 2027 and 25% of the remaining payments from May 1, 2027 to April 30. 2030.
If, during the term of the contract, Pearl is disabled and unable to perform his duties as head coach, he will receive 60% of the remaining remuneration of the contract.
The contract also includes:
*An annual meeting required no later than May 1 with the athletic director or delegate to review the athletic and academic performance of the program.
* A grant of Pearl’s personal sponsorship rights to the university.
* A “reasonable number” of personal appearances to assist the university with fundraising, alumni relations and to assist the university’s media rights holders in addition to radio and television appearances which are part of his duties as head coach.
*Pearl may accept income for speaking engagements other than those not requested by the university.
* It has the option of renting facilities from AU to run for-profit basketball camps.
* The coach and his staff are expected to conduct themselves in a manner that, at all times, “casts the coach and the university in a positive light”.
*He must inform the university in writing of any negotiation with the sports program of another university or a professional sports team. If you fail to do so, AU will be entitled to compensation of $50,000.
For the past five years, Pearl has led the Tigers to the best overall record of any team in the SEC. His current team is 27-5 overall and the No. 2 seed in the regional Midwest for the NCAA Tournament. His Tigers will play Friday in Greenville, South Carolina, against Jacksonville State University.
He is the 2021-22 SEC Coach of the Year and a semi-finalist for the Werner Ladder Naismith Men’s Coach of the Year Award.
When Auburn announced they had made the new contract with the coach, Pearl said: “I am grateful to our athletic director, Allen Greene and our administration, Dr. Jay Gogue, General Burgess and Rich McGlynn, for their continued commitment to Auburn. basketball and helping us build a competitive program.
“My intention when I came to Auburn was to be successful enough that this would be my last coaching job,” Pearl added. “My family and I love Auburn University, the proud tradition, the support of our alumni, students and fans, and the tight-knit community we have here on the Plains. I am grateful to all of my players, coaches and support staff for making history. Auburn will be our family’s eternal home. I am honored and blessed to be your head coach for a very long time.
Women’s Tournament Supporter Contest, CBS
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