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Pelini's contract officially released
Husker head coach Bo Pelini's contract was made official to the public on Wednesday afternoon.
As reported in Saturday's Journal Star, Pelini will make a base salary of $1.1 million a year. It's a deal that runs through five seasons, expiring on Dec. 31, 2012.
The contract includes incentives where Pelini would be paid $400,000 for winning the Big 12 conference championship game and another $400,000 for winning the national championship.
Breaking down the bonuses:
***By getting to the Big 12 Conference title game, he gains $150,000.
***By winning the Big 12 title, he gains $250,000.
***By appearing in a BCS game, he gains $150,000.
***By winning the BCS title game, he gains $250,000.
Pelini can also earn a bonus of up to $250,000 for academic successes.
The contract has a buyout provision where the university would be paid a minimum of $250,000 should Pelini take a job somewhere else. The buyout starts at $1 in its first year and decreases over the term of the contract.
In an additional note: Pelini will earn $91,667 for his work from since his hiring on Dec. 2, 2007 to Dec. 31, 2007.
Pelini also receives two automobiles and a country club membership, which is not a change from what Bill Callahan received as NU's coach.
“It has been a very simple, straight-forward process,” Pelini said in a statement. “Coach Osborne and I have been on the same page throughout the process, and it is good to have the contract finalized. I appreciate the support and commitment the administration at Nebraska has made to me and my staff, and I look forward to working with them in the coming years.”
Said Osborne: “We knew all along that this contract would take until at least mid-January to get everything done because Bo coordinated LSU’s defense in the national championship game, and he’s been immersed in recruiting since that game. We’re very pleased with the process. There were no protracted negotiations and no agents. Everything went smoothly.”
Pelini's contract officially released
Husker head coach Bo Pelini's contract was made official to the public on Wednesday afternoon.
As reported in Saturday's Journal Star, Pelini will make a base salary of $1.1 million a year. It's a deal that runs through five seasons, expiring on Dec. 31, 2012.
The contract includes incentives where Pelini would be paid $400,000 for winning the Big 12 conference championship game and another $400,000 for winning the national championship.
Breaking down the bonuses:
***By getting to the Big 12 Conference title game, he gains $150,000.
***By winning the Big 12 title, he gains $250,000.
***By appearing in a BCS game, he gains $150,000.
***By winning the BCS title game, he gains $250,000.
Pelini can also earn a bonus of up to $250,000 for academic successes.
The contract has a buyout provision where the university would be paid a minimum of $250,000 should Pelini take a job somewhere else. The buyout starts at $1 in its first year and decreases over the term of the contract.
In an additional note: Pelini will earn $91,667 for his work from since his hiring on Dec. 2, 2007 to Dec. 31, 2007.
Pelini also receives two automobiles and a country club membership, which is not a change from what Bill Callahan received as NU's coach.
“It has been a very simple, straight-forward process,” Pelini said in a statement. “Coach Osborne and I have been on the same page throughout the process, and it is good to have the contract finalized. I appreciate the support and commitment the administration at Nebraska has made to me and my staff, and I look forward to working with them in the coming years.”
Said Osborne: “We knew all along that this contract would take until at least mid-January to get everything done because Bo coordinated LSU’s defense in the national championship game, and he’s been immersed in recruiting since that game. We’re very pleased with the process. There were no protracted negotiations and no agents. Everything went smoothly.”
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