Billy Gillispie Salary?

What is Billy Gillispie's salary? How much money is he being paid as a coach?

asked by Tarra in Basketball | 2836 views | 08-27-2009 at 12:44 PM

Here are some details about his contract and salary according to the nba website:

Under the proposed deal, Gillispie will make $2.3 million in the first year of a seven-year contract, with the amount going up by $75,000 yearly after that, plus incentives, including $50,000 for an NCAA tournament appearance. The contract calls for a $400,000 base salary and $1.9 million for endorsements and for TV and radio appearances. The contract calls for a retention bonus of $1 million, plus interest, after four years and an additional $250,000 annually in the final three years of the contract. It also calls for as much as $750,000 annually in performance incentives, and as much as $100,000 in academic incentives. If UK buys out Gillispie at any time, it will have to pay him $1.5 million for each year remaining on the contract, capped at $6 million. If Gillispie wants to leave UK, he would have to pay the university an amount determined by which year in the contract hes in. For example, if he leaves in the first year, he would pay $3 million. That would gradually decrease to $1 million in the fourth year of the contract. The buyout clause ends after the fourth year, meaning he would be free to leave UK in years five through seven.

answered by Farlan | 08-27-2009 at 12:46 PM

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