Kansas State has locked Bill Snyder into a five-year deal worth $14.75 million that puts him under contract until he's 78.
This also likely places Snyder fifth among Big 12 coaches in salary with $2.75 million in 2013 and $100,000 escalators every year. Texas' Mack Brown, Oklahoma's Bob Stoops, TCU's Gary Patterson and Oklahoma State's Mike Gundy all make well over $3 million per year, and I've heard whispers that a new deal for Baylor's Art Briles puts him somewhere between $2.5 and $3 million annually. I haven't yet found exact information for Briles' deal, but whether Snyder is fifth or sixth, that's quite the bargain for an esteemed presence in the game coming off an 11-win season.
This deal also gets done before signing day, which is important for any old coach.
"We are thrilled Coach Snyder has accepted this new contract and proud of the competitive improvement our team has made -- both on the field and in the classroom -- under his leadership," Kansas State athletic director John Currie said. "Coach Snyder's daily drive, focus and energy in continuing to build the K-State football program are truly remarkable and inspirational. While he is not one to focus attention on himself, President [Kirk] Schulz and I felt that it was important to recognize, in this very significant way, his tremendous leadership and commitment to continuing to lead the K-State football program."
Kansas State's buyout on Snyder is $2 million. If he chooses to retire before 2017, he can walk away from the contract without paying a dime. Only Snyder knows if that will happen. But certainly his age hasn't affected the quality job that he has done.