We’re not sure if Rick Pitino has ever had any odd items in one of his contracts, but his son, Richard Pitino, who earlier this week was hired as the new head basketball coach of the Minnesota Golden Gophers, sure does. The younger Pitino was officially introduced at his new job Friday after spending a year leading Florida International University, and already his contract is raising a few eyebrows.
Pitino’s salary is basically $1.2 million per season, but that breaks down into two sums — a $500,000 base salary which increases by five percent per year, and $700,000 in “supplemental compensation” which stays constant. For the record, supplemental compensation “is in recognition of Coach’s efforts on behalf of the University for media, fundraising, community involvement, endorsements, and apparel, shoes, and equipment arrangements.”
Additionally, Pitino will see some pretty sweet bonuses depending on the Golden Gophers’ performance. He’ll get $50,000 apiece for Sweet 16 and Final Four appearances, $50,000 for a Big Ten regular season championship, and $25,000 for a tournament championship. Pitino also receives $50,000 for a winning record in conference play, and a whopping $100,000 for a national championship.
Additionally, Pitino gets bonuses depending on his players’ GPAs and APR scores.
Within the school, Pitino will receive 10 season tickets to Gophers basketball games, six for football and four for ice hockey. He also gets a car, and, lastly, the use of a private jet. However, it should be noted that Pitino’s expenses with the jet are capped at $50,000, and he can only use it for university business.
Check out a copy of Pitino’s new contract below.
Oh the perks of being the mayor of Boston. Thomas Menino and Larry Lucchino, what a duo — and it rhymes, too!
We’ll be announcing our new programming lineup, “NESN After Dark,” imminently.
How long before the #RedSox have to switch their broadcasting rights to HBO because they have TOO much sex appeal for basic cable?—
Jared Carrabis (@Jared_Carrabis) April 06, 2013
This will quite possibly be the highlight of this 12-year-old’s life.