Lew Perkins' retention agreement ( .PDF )
Kansas University’s athletics director could be in line for $750,000 more this summer than originally planned in his contract.
KU added the amount to a retention payment due to Lew Perkins this summer after he declined efforts made by another university in June 2006 to recruit him as its athletic director, said Lynn Bretz, a KU spokeswoman.
That university had notified both KU and Perkins that it was interested in recruiting him away, Bretz said Tuesday.
That brings the total amount of the payment from the original $1.3 million to $2.05 million, after taxes. That’s about a 58 percent increase from the original.
Perkins will earn the payment if he remains with KU through June 30 of this year. The money would be payable by Aug. 1.
The bonus rewards Perkins for remaining with KU for six years, and is being paid with nonstate funds from Kansas Athletics.
Bretz said the action to increase the amount of the payment came at the recommendation of Chancellor Robert Hemenway and was not triggered by any specific clause in the original contract.
Neither the university nor Kansas Athletics officials would identify the university that recruited Perkins. But in June 2006, Perkins confirmed he was contacted by University of Iowa officials about the athletic director’s job there.
Perkins, an Iowa graduate, said at the time: “Obviously, the University of Iowa is dear to my heart. I evaluated it. I took emotions out of it. This is where I want to be.”
The original clause in Perkins’ contract was included as a reflection of the university’s desire that he remain as athletic director for at least six years, Bretz said.
In that time, she said, Kansas Athletics has experienced financial success, including increased donations to the Williams Educational Fund from $5 million in 2003 to $13 million in 2009. Also, between 2004 and 2008, Kansas Athletics completed about $63 million in renovation and construction of athletics facilities, all done with revenue outside of state funds.