Coach Hoke contract finalized
Hoke signed a six-year contract with an average annual compensation of $3.25 million, starting at $2 million this season and including bonuses for staying with the program.
Also via Rivals
Hoke will earn a base salary of $300,000 per year, with additional compensation of $1.7 million this season that includes television and other media appearances and a shoe and apparel deal, among other things. He could also earn a $75,000 bonus this season for reaching a bowl game, an amount that could reach $125,000 if Michigan plays in the Capital One Bowl or Outback Bowl.
Hoke would earn a $300,000 bonus if U-M makes the inaugural Big Ten championship game or $500,000 if the Wolverines win it.
Hoke will also earn a $500,000 bonus each year he remains with the program, but he wouldn't receive the bonuses from the first two years until he completed his third season.
Buyouts include an $8 million settlement if he were removed after this year, $6 million in year two, $4 million in year three, $3 million in the fourth year and then $2 million in year five and six.
Michigan also agreed to pay the $1 million buyout clause in Hoke's San Diego State deal.
"The contract was handled by my agent and the University," Hoke said in a release. "My focus has been on the football program and will continue to be on making this program the best in America. I couldn't tell you what's in the contract other than my signature.
"The University offered Laura and I an opportunity to coach at Michigan, and that's been my dream. Nothing will change my focus."
Classic Coach Hoke quote.
March 31st, 2011 at 11:25 AM ^
This won't end well. This is the third or fourth thread on this in the last 24 hours.
March 31st, 2011 at 11:27 AM ^
It really makes me angry that his bonus is to win the big ten, how about about some incentive to win the national championship too?
March 31st, 2011 at 11:31 AM ^
lots of bonus my friend. Too many sometimes.
March 31st, 2011 at 11:41 AM ^
I see what you did there.
March 31st, 2011 at 11:43 AM ^
I didn't know Drew Sharp posted on here!
/zing!
March 31st, 2011 at 12:51 PM ^
This is Michigan, we don't WANT National Championships
March 31st, 2011 at 11:29 AM ^
Holy crap, this is totally new and exciting information that I have never seen discussed on this board ever before, especially like in three posts in the past 24 hours.
March 31st, 2011 at 11:30 AM ^
For a site with readers that are so on-the-ball, I don't know what made you think no one had posted this 24 hours after it was announced...
March 31st, 2011 at 11:44 AM ^
It probably took that long to get the info on that phone of his.
March 31st, 2011 at 11:35 AM ^
Really?
March 31st, 2011 at 11:40 AM ^
HAH!
March 31st, 2011 at 11:52 AM ^
But it looks to be copied, and without a link.
There is a special place in hell for you....
March 31st, 2011 at 11:53 AM ^
Who is this hoke everyone keeps talking about
March 31st, 2011 at 11:59 AM ^
C'mon Young you are better than this...
March 31st, 2011 at 12:04 PM ^
Wait, when did Rich Rodriguez get fired? What the hell?! We were going to win the NC this year!
Hard way to find out about your avatar, eh?
March 31st, 2011 at 12:33 PM ^
tats!
Tate is leaving michigan,
he will narrow his list of schools TBA
rumors out there of Miama (YTM) and Wyoming among others.
This information is all wrong. Hoke's contract actually has a base of $9.50/hr, and the key incentives are up to three free sausages a day at the sausage cart that will be a fixture at practice, and 50% off dry cleaning coupons for those pesky mustard stains.