Bill Snyder isn’t going anywhere anytime soon.
The longtime Kansas State football coach agreed to a new five-year contract on Thursday, securing the reigning Big 12 Coach of the Year through 2017.
Snyder’s new deal, totaling $14.75 million in base compensation over the life of the contract, includes an annual rollover worth $100,000. He will make $2.75 million for the 2013 season, an increase from the $2.2 million he was paid this past season.
With a career record of 170-85-1 in 21 seasons at K-State, Snyder ranks seventh among active coaches in the Football Bowl Subdivision and more than triple the next-most successful coach in school history.
The move by K-State should go a long way in quieting some speculation that Snyder is nearing retirement, despite the fact that he’d be 78 during the final season of the new contract.
Talk of Snyder’s retirement circulated in recent weeks upon the resignation of two longtime assistant coaches Michael Smith and Joe Bob Clements, who left for new jobs.
“This is really recognition of his leadership,” K-State athletic director John Currie told The Associated Press, “And it also sends a signal: How long he’s going to coach, whenever he’s going to retire, all that stuff, however long it is we’re happy to have him here.”
If Snyder is fired without cause, he would receive $2 million paid over the course of seven years. If he retires, he gets nothing and the contract is terminated.
In the event that Snyder would die unexpectedly, the contract is terminated automatically. If Snyder is unable to perform the duties as head coach for a term of 180 days, the contract will expire automatically.
Snyder’s future beyond coaching is also outlined in his contract, as he would become a special assistant to the AD, compensated annually at a salary of $250,000. That’s an increase of $100,000 from the contract Snyder signed in 2009.
The new contract also includes a $100,000 bonus for winning the Big 12 Conference, $75,000 for finishing second and $50,000 for finishing third. If K-State makes it to a bowl game, Snyder receives $50,000. If K-State earns a BCS bowl berth, Snyder would receive $100,000. Once the four-team playoff begins in 2014, Snyder would receive a $175,000 bonus for appearing in a national semifinal or $250,000 for playing in the national championship game. If K-State wins the national championship, Snyder would be paid an additional $350,000.
Winning either the Walter Camp, Eddie Robinson or Bear Bryant National Coach of the Year Awards would earn Snyder another $30,000.
If the Wildcats finish in the Top 20 in one or more of the AP or BCS final rankings, Snyder receives a bonus of $50,000. If K-State finishes in the Top 10, he receives $100,000.
Snyder’s fringe benefits include group insurance and retirement plans, the use of a courtesy vehicle and a vehicle stipend, the use of a suite in the stadium, membership at the country club, men’s and women’s basketball tickets (including Big 12 and NCAA tournament tickets), 10 hours of private plane use annually, $50,000 for business-related expenses, other travel benefits, and the use of K-State’s recreation complex and associated facilities.
The new contract also gives Snyder authority and responsibility for “the hiring, continued employment, job titles, compensation, and dismissal of assistant coaches for the football program.” All recommendations by Snyder will be subject to the approval of the KSA Board of Directors.
Snyder also has say in scheduling of opponents, but the final word will be Currie’s decision.