Shaka Smart Signs New 15 Year Contract With VCU
I love Shaka Smarts approach at Virginia Commonwealth.
Why take a high profile job somewhere that it could be easier to fail, when you can build a national power right in your backyard.
Smart has reportedly signed a new deal at VCU that will keep him at the Atlantic 10 school through 2028. According to Paul Woody of the Richmond Times-Dispatch, Smart’s new contract with VCU, signed Oct. 11, keeps his base salary at $450,000 per season.
His supplemental income increases in the first year to $950,000, up from $800,000 in his previous contract. Here his how the rest of the contract is outlined.
In addition to his base salary and supplemental income, the contract states Smart will receive $25,000 per year for university sponsored radio and television appearances.
Smart can be required to speak at or attend events or functions sponsored by the university, the university development office and other affiliated organizations that benefit the university directly or indirectly.
He will receive $25,000 annually for such appearances.
If VCU, ranked No. 15 in the ESPN/USA Today coaches’ preseason poll, wins the NCAA tournament championship in six games, Smart would get $356,250 in bonuses.
Other potential compensation includes $6,500 for every VCU game broadcast nationally and $3,500 per game broadcast outside the VCU or Atlantic 10 package.
Smart will receive $5,000 for a victory over a member of the ACC — four are on VCU’s schedule this season — and $2,000 for defeating Old Dominion.
If the Rams miss the NCAA tournament but are selected for the NIT, Smart will receive $2,000. He can make as much as $31,000 if VCU wins the NIT.
If the Rams win 20 or more games in a season, Smart receives a $20,000 bonus.
There also are incentives for players’ academic performances. Smart receives $4,000 for each player who graduates by the summer of the completion of his athletic eligibility and $2,000 per player for any who graduate within one year of the completion of their eligibility.
If Smart takes another job before April 30, 2014, he will owe VCU $600,000. That amount decreases $100,000 per year.
The school that lures Smart from VCU is obligated to play a home-and-home series with VCU or buy out the games for $250,000.
Smart became VCU’s coach in 2009 after Anthony Grant left to take the head coaching position at Alabama, and he’s turned VCU into a better job than those he turned down, including Illinois, Minnesota UCLA, and USC.