Posted at 11:50 a.m., Tuesday, December 11, 2007
CBKB: Tubby Smith highest-paid U of M employee
Advertiser Staff
MINNEAPOLIS — Minnesota basketball coach Tubby Smith finalized a contract today that will pay him $1.75 million annually.The seven-year contract — the largest for a university employee — was signed about nine months after the former Kentucky coach was hired to rebuild a Gophers program that lost a record 22 games last season.
"Certainly, we were happy to finally get everything finalized with our contract as well," Smith said. "We finally got that all done. The lawyers stretched it out long enough, but I'm happy to have that done."
Smith will get $250,000 in annual deferred retirement payments beginning in 2011. His contract also includes several incentives, such as $500,000 if the Gophers win the national championship, $250,000 for winning the Big Ten regular-season title and $100,000 for making the NCAA tournament.
So far, the Gophers are 6-1 under Smith.
Earlier this year, Gophers football coach Tim Brewster signed a five-year contract that includes $1 million annually in guaranteed money and as much as $700,000 in performance bonuses. Brewster has an $800,000 salary enhanced by $200,000 in annual deferred retirement compensation.
