Posted by Tom Fornelli
Nebraska will be making the move to the Big Ten in 2011, and it looks like head coach Bo Pelini will be making the move with a brand new contract. According to the Lincoln Journal Star, Pelini is now working under a new deal that begain on March 1. While the new contract only adds one year to the deal Pelini had been coaching under it also sees Pelini getting a bump in pay.
In fact, with the new raise, Pelini will now be the third-highest paid head coach in the Big Ten, trailing only Ohio State's Jim Tressel and Iowa's Kirk Ferentz.
Under terms of a deal that became effective March 1, the fourth-year Nebraska head coach's annual base salary increased to $2.775 million, a raise of $425,000 from his 2010 contract. Under the new five-year deal, Pelini's base salary will escalate $100,000 annually, reaching $3.175 million in 2015.
The length of Pelini's contract was extended one year, and his performance bonuses increased significantly. The new deal also more than doubles the amount NU would owe Pelini if he is fired.
Pelini also had a clause removed from his former contract that would have seen him receive a $500,000 bonus should he still be coaching the team in 2015. Nebraska athletic director Tom Osborne pointed out that due to a new law, schools can no longer give head coaches bonuses based on a team's academic performance. So Osborne said that the new deal makes up for the income lost there, and that Nebraska also just wanted to reward Pelini for the job he's done since taking over the program.
Pelini can also earn performance bonuses for winning the Legends Division without appearing in the Big 10 title game ($100,000), reaching the Big 10 Championship Game ($200,000), or winning the title game ($350,000). Should Nebraska reach the BCS title game, Pelini would get a $350,000 bonus, but that would go up to $650,000 if Nebraska won the BCS title game.
If that's not enough, Pelini also gets use of a private jet for 16 hours a year for personal travel.
If Pelini is fired before the contract ends, he'll get $1.8 million annually for the remainder of the deal.