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Archive for Wednesday, August 6, 2008

Self discusses his new deal

KU hoops coach guaranteed $3 million a year

Kansas basketball coach Bill Self celebrates after the Jayhawks defeated Memphis to win the national championship in this April 7 file photograph. Self has signed a new 10-year contract with KU.

Kansas basketball coach Bill Self celebrates after the Jayhawks defeated Memphis to win the national championship in this April 7 file photograph. Self has signed a new 10-year contract with KU.

August 6, 2008, 6:40 p.m. Updated August 7, 2008, 1:28 a.m.

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Bill Self contract ( .PDF )

New contract puts Self at top of coaching pay scale

On Wednesday the University of Kansas released the details of Bill Self's new 10-year deal. The agreement pays Self $3 million per year, plus incentives, making him one of the highest paid coaches in all of college basketball. Enlarge video

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Contract comparisons

PREVIOUS SELF CONTRACT

Current term: April 1, 2006 to 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.

Incentives:

Final 4: $100,000.

NCAA Championship: $200,000.

Big 12 Regular Season Championship: $50,000.

Big 12 Tournament Championship: $25,000.

Associated Press Coach of the Year: $50,000.

NEW SELF CONTRACT

Term: April 1, 2008 to 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.

Incentives: Remain the same.

Note: Retention earned only if coach remains 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.

Bill Self, who has signed a new 10-year contract that will provide him a guaranteed $3 million a year through March of 2018, has one wish for the next decade.

"In my perfect world, everybody will be happy the next 10 years, that we continue to recruit good guys and we win. That's my hope. That everybody involved with KU is happy," Self said in a cell phone conversation with the Journal-World Wednesday -the day details of his newly signed contract were released to the public.

"I love KU. It's where we (he and his family) want to be," noted Self, who was completing a short vacation at Pine Valley Golf Course in New Jersey. "I felt the administration always has been fair with me since I've been here. They looked out for me when we had back-to-back losses in the first round to Bucknell and Bradley and are looking out for me (financially) after our success the last couple years."

That includes last season's national championship. After the season, Self's alma mater (Oklahoma State) came calling. KU athletic director Lew Perkins stepped to the plate and made sure Self stayed at KU. Perkins concocted a deal that will pay Self an annual salary of $229,900, unchanged from his previous contract which paid him an annual total of $1,610,600.

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 Perkins.

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 partners.

Additionally, the compensation package includes a tax-free retention agreement that pays Self $500,000 for each year during the contract that he serves as Kansas' head coach.

"Lew and I visited. We talked about many things," said Self, 45. "We talked about my assistant coaches, secretaries, staff, facilities, living arrangements (for athletes at soon-to-be renovated Jayhawker Towers). The last part was me," Self said.

"There were no negotiations with Lew. He asked what I thought was important. I said facilities (including new practice facility), taking care of my assistants and staff. He was telling me what he was thinking. I said, 'I think that would be fantastic.' I was hopeful of close to a 10-year deal. We talked about number of years. There was no negotiating on the dollar amount," added Self, who believes he'll "still want to continue coaching" when the deal runs out at age 55.

Perkins arrived at the $3 million figure, which could rise to $3,425,000 if Self reaches all of his contract incentives. It's believed Florida's Billy Donovan is the country's highest-paid coach at a public institution at $3.5 million a year. Duke's Mike Krzyzewski reportedly makes more than Donovan, but the private school will not release details of Coach K's pact. Texas' Rick Barnes is previously highest paid coach in the Big 12 with a salary reported at $2 million. As far as public institutions, the $30 million compensation to Self is believed to be the largest financial commitment a school has committed to a college hoops coach.

"Bill was great to work with. There were no issues at all, zero. These were two willing parties, the university and coach, and we sat down and agreed to a lot of things quickly," Perkins said. "I think the university is extremely pleased we were able to keep Bill here and we are excited about that. He has done a tremendous job here and he deserves what we are paying him."

For 10 years.

"I had no problem with it. We want him here 10 years," Perkins stressed of the length of the deal, which has no buyout clause if Self ever decides to leave KU.

Perkins said he believes the new deal makes Self one of the top-five-paid coaches in the country, but there's no way of telling for sure with so many complicated clauses and incentives in contracts. For instance, Self's deal includes benefits such as use of two automobiles, a $2 million life insurance policy, travel expenses for his wife and two children attending games outside of Lawrence, right to hold a summer camp and clinics, 10 tickets to each home game and six tickets to each away game.

"We never discussed that," Perkins said of other coaches' deals. "There are so many different ways people do it. It's complicated. Everybody has a different format. What I try to do is call around the country, people I have confidence and trust in. Our goal was not to put coach (Self) one, two or three. We wanted to pay him what we thought he deserved to be paid. There are all kinds of other ways to make income for a coach."

"Maybe I'm up there pretty high," Self acknowledged, adding the years make him most happy. "There's no reason to do a rollover (contract). My thinking is 10 years is plenty of time if people get tired of me after that they have the right to tell me to move on."

Self declined to reveal his assistants' pay, only saying of their raises: "I'd say (they are) substantial." KU has not yet released details of his assistants' contracts. The figures will not rival Kansas State's Dalonte Hill, who makes $400,000 per annum.

Self reiterated he's hoping to stay at KU a long time. He addressed rumors that the NBA might come calling.

"I have no crystal ball. I am not on anybody's short list that I am aware of. To be honest, I will not say that (NBA) will never pique my interest. Certainly not in the near future. I have too good a job here at Kansas," Self said.

KU football coach Mark Mangino recently signed an extension that will pay him $2.3 million per year through 2012.

Comments

alm77 6 years, 4 months ago

Congratulations! Glad to hear your staying on. Keep up the great work and last, but not least, please, Mr. Self, shop locally.

George_Braziller 6 years, 4 months ago

$30 million over the next ten years? Ugh. I give up. Can I puke now? That is the yearly budget for a small African country and they're spending it on one person to show guys how to bounce a baskeball?

alm77 6 years, 4 months ago

Sorry, that should be "you're" not "your"....

ontheotherhand 6 years, 4 months ago

Bill brings in tons of money for the program (as someone stated). I think that is great. Now, we just need for Lew and the gang to say "Hey, we make so much money here in Athletics and we do not share it with the rest of KU (sorry, but we have our own buildings to build!!). Given the fact that KU cannot pay its faculty decent salaries and students have to pay out the rear to go to school, we will forego any part of the money allocated to KU by the inept Kansas Legislature. Use that money to keep good faculty at KU and update the buildings that are falling apart because that is your problem and not ours." Am I a dreamer or what?

johnwoods 6 years, 4 months ago

Coach Self is a great coach, great representative of the University of Kansas and appears to be a great person. But there is no way a coach of an amateur sport should be making this kind of money. It is time for the athletics departments in this country to put spending limits on programs, through their NCAA organization. Place different limits on the different divisions/size of schools. Stop the escalation of the spending that is spiraling out of control!The comment by KIA that no state or university funds were used to provide this salary increase is so bogus. If they didn't pay coaches so much then they would be using this money for other expenses at the athletics department, offsetting some of the actual state funds that are used by them.Over a $50 million dollar budget for a program (KIA) that provides activities and academic support for less than 500 students!! Outrageous.

Haiku_Cuckoo 6 years, 4 months ago

"I graduated from KU and I still think that it's revolting that someone is being paid this kind of money for something as stupid as this. It's a GAME!! Bounce a ball and throw it into a peach basket." They haven't used peach baskets since Naismith was alive. When did you graduate from KU? 1902?

George_Braziller 6 years, 4 months ago

I graduated from KU and I still think that it's revolting that someone is being paid this kind of money for something as stupid as this. It's a GAME!! Bounce a ball and throw it into a peach basket. That's all it is.____XEPCT (Anonymous) says: Self just won a championship for KU, put your grievances aside and join the love fest! In ten more years he should win at least one more championship! Rock Chalk!

jayhawker85 6 years, 4 months ago

Donors decided to pay this contract. That's their decision, but if I ever make enough money to pay for a basketball coaches salary, I will create my own scholarship fund. $30 million over 10 years could send a lot of young kids to school.

jayhawker85 6 years, 4 months ago

"I graduated from KU and I still think that it's revolting that someone is being paid this kind of money for something as stupid as this."As opposed to making money swindling people as a big shot lawyer, oil man, big businessman, or record/movie exec?At least Kansas winning at basketball makes people happy and boosts the Kansas economy. That couldn't be said for the prick in charge of Sunflower broadband...

chapdaddy 6 years, 4 months ago

.........and most importantly, how to win a national championship.

XEPCT 6 years, 4 months ago

George, The Gambia is a pretty small country in Africa and their GDP is 3 Billion USD per year. I guess what I'm trying to say is I'm calling BS. Don't be so harsh on Africa! Not to mention Luol Deng is getting $71 million over 6 years with the Bulls and he's Sudanese. Self just won a championship for KU, put your grievances aside and join the love fest! In ten more years he should win at least one more championship! Rock Chalk!

TopJayhawk 6 years, 4 months ago

And Self's success will only help ol' KU. Higher enrollment. It will also make it easier for the academic side to fleece the students and parents in the form of higher tuition. Remember, KU has an endowment of one billion plus dollars.. They could afford to let all qualified students attend for free if they wanted too. So all you athletic haters out there, need to take some good benzo's and just chill out.

tangential_reasoners_anonymous 6 years, 4 months ago

"Self discusses his new deal"Love that headline, though... sounds like an intrapersonal conversation.

Rickyonealku 6 years, 4 months ago

I am glad the Men's Basketball and Football TEAMS will have coach Self and Mangion for years!!!!! Congrats to both if I might post...rock chalk jayhawks....KU in good hands....

penguin 6 years, 4 months ago

KUAC is a self-sustaining entity that could not pay faculty salaries or for deferred maintenance on academic buildings even if it wanted to. The BOR and Legislature threw a hissy fit when athletic facilities were included on the deferred maintenance lists and said they would never pay for those projects. So...KUAC goes out and gets money to pay for those projects. They are entitled to keep the money they raise from donors and earn through other means. Asking that athletic revenue be reinvested in academic pursuits is a dangerous gamble. This revenue is by no means guaranteed and can vary wildly from year to year. Also this lets Legislators off the hook for funding at KU. I am sure the majority of Legislators would be happy to take KU off the books and have KUAC revenues fund it. This sounds about as solid as tying higher ed funding futures to gambling revenue...and we all know how that has worked out so far. If you really want an entity on campus to fund projects it would seem that you might want to set up some sort of foundation or endowment...wait that already exists. KU Endowment has a 1 billion + in funds. Also another secret out there is that no donor wants to fund deferred maintenance. They want to fund fancy fountains and other new items they can have their name placed on. However, ask donors to pay to give millions of dollars to refurbish a building that has the name of another person on it and they will balk. The prospect of having a plaque in a building that says The "Enter Name Here" Asbestos Abatement Project or The "Enter Name Here" Foundation Repair Project...for some reason just does not bring in the big dollars.In the end, the salaries came from people giving their money for these purposes. These same donors often give to academics too. If you have a problem with it I suggest you contact KU Endowment in search of purchasing a deferred maintenance tax credit or give in some other way. Otherwise, just let people donate to what they want to.

chzypoof1 6 years, 4 months ago

The reality that a lot of you are missing is that Bill brings in a LOT of money for the program. $3 million is a drop in the bucket for everything that money does for the university. If you don't like Bill or the team, then don't waste your time on this Blog.poof

california 6 years, 4 months ago

Those that are bewildered over a $3 Mil per year contract are not in tune with ANY type of sports or pay of athletes and coaches.LeBron will go to Europe and make $50 Mil a year it was just reported. You know how much A-Rod makes? What about these kids coming out of college and never playing a down in the NFL? See their salaries and signing bonuses?How much do you think Phil Jackson makes?Self is one of the best and isn't the highest paid coach. My guess is that Coach K is close to $5 Mil per year.OK, here is a prediction and some folks are going to "puke" and such: Self will get a raise from his current deal during the term of the contract. That, or he will be offered much more by an NBA team (this intrigues him) or some other team/franchise and will bolt for more dough.$3 Mil a year isn't out of line whatsoever. If you think it is, get with the program, do some research and thank your lucky stars he didn't bolt to OSU for MUCH MUCH more than this!Oh God, I can hear the reactions now from this post!ROCK CHALK JAYHAWK, KUUUUUUUUUUUUU!!!!!!!!!

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