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05-18-2006, 04:15 PM
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new Contract for Coach Tressel
http://www.dispatch.com/news-story.php?story=186851
Tressel, OSU agree to 7-year contract
Coach to earn $2.45 million a year
The Columbus Dispatch
Thursday, May 18, 2006 4:01 PM
Ohio State football coach Jim Tressel has agreed to a new contract that runs through 2012 and will pay him an average of $2.45 million annually for seven years.
After the contract is signed, Tressel will receive $1,878,900 and a $500,000 signing bonus in the first year, making his total compensation that year $2,378,900. He will receive $2,675,900 in the final year of the contract.
Tressel, 53, whose new deal is retroactive to Feb. 1, had been under contract through 2009.
"Jim Tressel is one of the finest football coaches in the country, and we felt it was important to get him near the top nationally in terms of compensation. This contract accomplishes that goal," OSU athletics director Gene Smith in a statement.
Tressel is 50-13 in five season at OSU. He led the Buckeyes to the 2002 national championship and has two Big Ten co-championships and four bowl victories, including three Bowl Championship Series wins in as many tries. He is 4-1 against Michigan and 4-1 in bowl games. "Obviously, I am delighted with the new arrangement, and I want to thank Gene Smith and school president (Karen) Holbrook for their support," Tressel said in a statement.
Sorry if this belongs in the Tressel thread, but it seems like big news...nice to see him making money like some of the trendier coaches
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05-18-2006, 04:48 PM
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Live Fast. Die Hard
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OSU Glory Days until 2012!
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05-18-2006, 05:36 PM
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Rental car smells like pork rinds
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Quote:
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Originally Posted by BCSBust
That's quite a bit of money but you have to pay the best the most money. So, that's quite fine with me.
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The extra money that 14-0, 11-2, and 10-2 BCS-bowl-winning teams generate more than compensate for his big salary.
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Originally Posted by BDtheBuckeye
OSU Glory Days until 2012!
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At least. Tressel is 53, and I can see him coaching until he's in his early 70s, health allowing. We have him for 20 or so more years...
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05-18-2006, 06:15 PM
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When did ignorance become a point of view?
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I think this will put an end to the "If Tressel would retire today who would you want to replace him" thread.
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05-18-2006, 07:55 PM
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not a rocket surgeon
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Quote:
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Originally Posted by ScriptOhio
I think this will put an end to the "If Tressel would retire today who would you want to replace him" thread.
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I bet that thread spurred the contract negotiations.  |
05-18-2006, 08:01 PM
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officious intermeddler
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He deserves every penny.
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05-18-2006, 09:48 PM
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The Voice of Reason
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Just think that for most of us the job would be a "dream" in of itself...the rest is like winning the lottery!
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05-19-2006, 06:15 AM
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The Lizard King
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4-1 vs Michigan........enough said. He is worth every penny.
CPD
5/19/06
Quote:
<H1 class=red>Bucks flowing toward Tressel
</H1>New 7-year deal totals $17 million
Friday, May 19, 2006
Doug Lesmerises
Plain Dealer Reporter
When Jim Tressel was given a new contract by Ohio State in 2003 after winning the national championship, he wasn't the highest-paid football coach in the Big Ten.
In a new deal an nounced Thursday, Tressel caught the wave of escalating salaries. Receiving an average of $2.45 million over each of the next seven years, Tressel should be one of the five highest-paid coaches in college football.
Ohio State announced the $17.1 million deal 11 weeks after Tressel and athletic director Gene Smith agreed to extend a March 1 renegotiation window in the previous contract, which ran through 2009 and would have paid Tressel about $1.6 million this season.
The new contract will pay Tressel $2,378,900 this season, including a $500,000 signing bonus. He will make $2,300,900 in 2007; $2,325,900 in 2008; $2,400,900 in 2009; $2,500,900 in 2010; $2,575,900 in 2011 and $2,675,900 in 2012.
Both Smith and Tressel were attending conference meetings in Chicago and were unavailable for comment, but Tressel's agent John Geletka described an amiable negotiation in light of the deals that pay USC's Pete Carroll, Notre Dame's Charlie Weis and Texas' Mack Brown well over $2 million per season.
"That's why we had an opening in the contract to be able to do this," said Geletka, who said he brought the salaries of the nation's top coaches to the table for comparison. "And Gene understood the reality of what's happened at the college level."
Smith, in his second year at AD, said several months ago that he would have redone Tressel's deal, which would have maxed out at about $1.8 million in the 2008 season, even if the window wasn't in place.
In a statement released by OSU, Smith called Tressel "one of the finest football coaches in the country, and we felt it was important to get him near the top nationally in terms of compensation. This contract accomplishes that goal."
The contracts of OSU assistant coaches are believed to have been renegotiated several weeks ago.
Tressel is 50-13 in five seasons with the Buckeyes with two Big Ten titles, and is 4-1 in bowl games and 4-1 against Michigan. Ohio State was 10-2 last season and finished in the top five in the final polls for the third time in four years. In the statement, Tressel thanked Smith and OSU | | |
