Details on Erik Bakich's Contract
Mark Snyder at freep.com has the details on Michigan baseball coach Erik Bakich's contract:
- Five-year deal, with nearly $830,000 in base salary, starting at $150K/year and increasing to more than $182K for the 2016–17 season
- $65,000/year for TV, radio, Internet, apparel, and so on
- $25,000/year for a possible sponsorship deal with a bat manufacturer
- Various performance bonuses, ranging from one month base salary for a Big Ten title/NCAA bid to $25,000 for a national championship
The reports at the time of his hiring of compensation of $400K+ were obviously exaggerations as Brandon had suggested. The other interesting thing is that while Bakich will be making much more than he was at Maryland, where his base pay was a little over $100K, his overall compensation is significantly below what Michigan was paying Maloney, who had a contract topping out at $349K in total compensation in its final year.
February 3rd, 2013 at 6:47 PM ^
February 3rd, 2013 at 7:34 PM ^
Bakich gets $70,000 (830k/12) for a conference title or NCAA bid but only $25,000 for a NCAA bid? Seems strange
February 3rd, 2013 at 7:38 PM ^
You need to divide the year's salary by 12 to get the bonus.
February 3rd, 2013 at 7:53 PM ^
my mistake. That makes more sense now
February 3rd, 2013 at 9:12 PM ^
I'm assuming the bonuses are cumulative. Here's what the article says:
He has standard performance incentives for a regular season Big Ten title/NCAA bid for one month base salary, one month salary for a Super Regional, two months for a College World Series appearance and $25,000 for a CWS national championship.
So for a Super Regional, he'd actually get two months base salary ($25,000 in year one); for a CWS appearance, he'd get four months base pay ($50,000); and for NC, he'd get another $25K, or a total of $75,000.
Does that make sense?
(Edited the above because my original numbers were off.)
February 3rd, 2013 at 11:29 PM ^
Seems cheap for the quality of coach he seems to be.
February 4th, 2013 at 12:47 AM ^
So the actual starting salary is 240k, which is what the highest paid prof in my department gets, and almost 4 times what the lowest paid tenured prof gets. Yeah, we totally can't afford to give players small stipends.
February 4th, 2013 at 1:01 AM ^
Michigan never said that stipends would cost too much. The Indiana State type schools are the ones that made those claims.