At the introductory press conference for new Michigan football coach Brady Hoke, athletic director Dave Brandon told the media that Hoke had agreed to a six-year contract.
But in the nearly three months since he was hired, Hoke has apparently been so busy hiring a coaching staff, recruiting and conducting spring practices that he never got around to signing the deal. That is, until this week. Michigan and Hoke finalized his contract and released the terms of the agreement on Wednesday.
Hoke will earn an average annual salary of $3.25 million over the course of the contract. He will be paid at least $2 million in his first season.
The Detroit Free Press has the exact breakdown of the coach’s compensation:
His base salary will be $300,000 with $1.7 million in additional compensation from TV, radio, Internet, shoe and/or apparel sponsorships, consulting, promotion and other appearances and services. His base salary will increase $100,000 each year, according to the 18-page contract signed Monday.
There’s a stay bonus of $1.5 million that Hoke would earn after the third season and after the sixth season if he remains coach for the length of the contract.
Additionally, Hoke’s contract includes incentive bonuses based on team performance. If Michigan qualifies for a bowl game, he will earn $75,000. That would go up to $125,000 if Michigan plays in a second- or third-place conference bowl. Hoke could also earn $300,000 for a conference championship game appearance, and $500,000 for winning the Big Ten title game.