Connect with us

Hi, what are you looking for?

Sports

Brian Kelly due $500,000 bonus after LSU becomes bowl-eligible

LSU football coach Brian Kelly’s basic annual compensation from the school doesn’t quite reach $10 million. But for the third time in as many seasons at the school, he has bridged that gap by qualifying for the $500,000 bonus he receives if the Tigers become eligible for a bowl game.

They reached that achievement for the 24th time in its 25 most recent seasons on Saturday night by defeating Arkansas on the road 34-10. LSU improved its record to 6-1 overall (3-0 in Southeastern Conference play).

It means that, at a minimum, Kelly’s pay for this season will be $10.475 million, unless takes an action like the one he did after last season. In late January 2024, he signed an amendment to his contract under which he renounced his right to $400,000 of the $500,000 he was due for the Tigers’ bowl eligibility last season (they played in the ReliaQuest Bowl). The amendment was effective only for the 2023-24 football postseason.

Kelly’s contract states that he can receive the $500,000 incentive if the team is “bowl eligible.” Under NCAA rules, that generally means winning at least six of 12 regular season games. Kelly can get additional bonuses if the Tigers meet an academic benchmark, further their success on the field or he wins coach-of-the-year awards.

However, as of the middle of this past week, Kelly’s agreement remained among the at least 40 that schools and coaches have not updated to reflect the College Football Playoff’s expansion to 12 teams from four. At present, Kelly’s contract calls for him to receive an additional $100,000 if LSU is a “New Year Six Bowl Participant.”

Many football head coaches’ contracts call for a bonus if the team plays in a bowl game. But among public-school coaches, Kelly’s is more than double the $200,000 payment that Indiana’s Curt Cignetti and Penn State’s James Franklin each can get if their respective teams play in a bowl game not connected to the College Football Playoff. Both of those teams already have reached at least six wins this season.

Under Cignetti’s contract, the Hoosiers’ presumptive bowl appearance also will give him an automatic one-year contract extension and a $250,000 pay increase that begins with the start of his next contract year, Dec. 1, 2024.

This post appeared first on USA TODAY

    Fill Out & Get More Relevant News


    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    You May Also Like

    Business

    A group of protesters staged a sit-in outside the New York Stock Exchange on Monday morning amid continued Israeli attacks in Gaza. Approximately 500...

    Business

    DETROIT — General Motors has agreed to establish a joint venture with Lithium Americas Corp. that includes the automaker supplying $625 million in cash and credit to the...

    Sports

    Note: This story contains graphic descriptions of sexual abuse that may be offensive to some readers or painful to survivors of sexual assault. Correction/clarification:...

    Politics

    The Biden administration sharply intensified pressure on Israel this week to improve dire conditions for civilians in the Gaza Strip, warning that it would...

    Disclaimer: hotopportunitynow.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2023 hotopportunitynow.com | All Rights Reserved