Tuesday, November 24, 2015

Weber to cash in on first season

In Bruce Weber’s first season as the coach of Kansas State men’s basketball, the school had its best regular-season record ever and won its first league title in 36 years.

And he’ll get paid for it, too.

Already due $1.5 million for this season, Weber is scheduled to receive bonuses within 30 days of the end of the season for the team’s performance.

According to the first-year coach’s contract, Weber will receive additional compensation, with the amount determined by multiplying the top achievement’s set percentage amount by his base salary.

Weber coached the team to an NCAA tournament bid and a top-three seed in the Big 12 tournament, but his top achievement — winning the Big 12 — will earn him an additional 16 percent of his base salary, or $240,000.

The coach will receive an additional $25,000 for being named the Big 12 Coach of the Year, and could earn $50,000 more if the team’s graduation rate is above the rate for the general student body at K-State.

Because of the success this season, Weber also kicked in a clause which states his contract must be modified, extended or revised between March 15, 2014, and May 31, 2014, unless a renegotiation takes place before that time.

To trigger that clause, Weber had to win the Big 12 tournament, receive a 1 or 2 seed in the NCAA tournament, reach the Sweet 16 or win either Big 12 or National Coach of the Year.

Weber’s base salary is scheduled to increase when the new year kicks in on May 1. His salary will increase to $1.6 million, and will increase by $100,000 each year over the course of the five-year agreement.

If Weber exits his contract agreement with K-State before May 1, 2013, he will owe the school $1.5 million, which is typically paid by the school that hires a coach away from a school while he is under contract. After May 1, the buyout amount for the coach goes down to $1 million.

Weber currently ranks seventh in the conference in base salary among coaches, tied with TCU’s Trent Johnson. Kansas’ Bill Self earns a base salary of more than $3.8 million, while West Virginia’s Bob Huggins is at $3 million and Texas’ Rick Barnes is just shy of $2.5 million.

Baylor’s Scott Drew ranks fourth and Oklahoma State’s Travis Ford is fifth, while Lon Kruger ranks sixth at Oklahoma. Fred Hoiberg’s contract had him earning just $1.2 million this season at Iowa State, and Chris Walker made $300,000 as the interim coach for Texas Tech.


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