Self Signs New Contract at KU
Aug. 6, 2008
Lawrence, Kan. –
University of Kansas men’s basketball coach Bill Self has signed a new 10-year contract that will pay him $3 million per year; the agreement begins retroactively on April 1, 2008, and expires in March 2018. Self’s prior contract had three years remaining (expiring March 2011).
Coach Self’s compensation package comes from private resources. No tuition dollars or state funds are used.
Under the new contract, Kansas 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 director of athletics. 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 $1,610,600.00.
“We are thrilled that Bill will be our coach for years to come,” said KU Athletics 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 just completed his fifth season as the head coach at Kansas, having guided the Jayhawks to the 2008 NCAA Men’s Basketball Championship. His KU teams are 142-32 (.816) overall, including 64-16 (.800) in Big 12 games. His Jayhawks have won at least a share of the last four Big 12 Conference regular-season titles and the championship of the last three Big 12 Tournaments. Including 2008, under Self’s leadership the Jayhawks also reached the Elite Eight of the 2004 and 2007 NCAA Championships and he has led three different teams (Tulsa, Illinois and Kansas) to the Elite Eight.
“I’m very thankful to Chancellor Hemenway and Lew for the confidence they have shown in me,” Self said. “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.”
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
AP 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.
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. Incentives remain the same
