Contracts for new men’s basketball coach Trent Johnson and new athletic director Joe Alleva are subject to the Board of Supervisors’ approval this afternoon.
Johnson’s total compensation is set at $1.2 million annually for his five-year contract.
Johnson’s contract also includes up to $600,000 in post-season incentives. He will receive $100,000 for a Southeastern Conference regular season title and $100,000 for an SEC tournament title. If Johnson leads the Tigers to just one NCAA game, he will receive $100,000. Sweet 16 and Final Four appearances will also earn Johnson $100,000 a piece.
If he wins the NCAA Championship, he’ll receive an additional $100,000. Johnson’s contract also allows $200,000 in bonuses for meeting academic goals. His buy-out is $2.5 million if he leaves during the first year. The buy-out amount reduces by $500,000 for each following year.
Alleva’s total compensation is set at $550,000 annually for his five-year contract.
This total is divided into a $350,000 base salary and $200,000 in supplemental compensation for his work related to “enhancing the revenue of the department” and making media appearances. Alleva’s contract also includes graduation rate incentives.
Check back during the day for more details.