Tag:Urban Meyer Contract
Posted on: November 29, 2011 3:16 am
 

DOCUMENT: Urban Meyer's Ohio State contract

Posted by Adam Jacobi

Urban Meyer is officially the next head coach of Ohio State, and on Monday, the school released the contract he signed that very day. You can peruse the document at this PDF file, and we have also transcribed the contract in full below.

Of particular note is that Meyer is under contract for $24 million over six years, with longetivity bonuses totaling an additional $2.4 million if he is still coach on January 31, 2018. Additionally, Meyer enjoys perks like a private jet and a golf course membership, and fans of quirky details will no doube be delighted to find out that $10,000 of Meyer's annual $4 million salary will be compensation for Coca-Cola appearances. Yes, Coca-Cola will be paying one-quarter of one percent of Meyer's salary.

At any rate, the contract's terms are below.

Page 1

The six-year contract agreed to by Urban Meyer and the university includes $4 million in annual compensation. Additionally, Coach Meyer will receive supplemental compensation bonuses based on achieving certain milestones including academic accomplishments for the football program, and retention payments of $450,000, $750,000, and $1.2 million payable if Coach Meyer is still employed as head coach on January 31, 2014, January 31, 2016, and January 31, 2018, respectively. In concluding this agreement, the university undertook certain benchmarking of comparable contracts.

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Head Football Coach -- Terms of Employment

The Ohio State University, on behalf of its Department of Athletics ("Ohio State"), and Urban F. Meyer ("Coach") have had certain discussions regarding Coach's employment as Ohio State's head football coach. The parties recognize that Ohio State shall present Coach with a more thorough employment contract addressing additional terms of employment in the near future. Until that time, the parties hereby agree to the following terms as follows:

1. Ohio State shall employ Coach as head football coach for a term commencing on November 28, 2011, and terminating, without further notice to the Coach, on January 31, 2018.

2. Ohio State shall pay Coach total cash compensation in the amount of Four Million Dollars ($4,000,000) per year for the term commencing on November 28, 2011 and terminating on January 31, 2013. Coach shall receive compensation increases as approved by the Board of Trustees for contract terms beginning February 1, 2013. The total cash compensation for the initial contract term shall be allocated as follows:

a. Base compensation: $700,000;

b. Media, promotions and public relations: $1,850,000;

c. Apparel/shoe/equipment: $1,400,000;

d: Retirement contribution payment: $40,000;

e. Coca-Cola appearance payment: $10,000

Coach may elect, prior to execution of the formal employment agreement between the parties, to defer a portion of this total compensation into a deferred compensation account.

3. Ohio State shall pay Coach a one-time transition payment of $250,000 upon the execution of the agreement. Ohio State shall also pay Coach an additional $250,000 for transition purposes, which shall be payable upon execution of this agreement, but which Ohio State shall deduct in substantially equal amounts from Coach's base salary payments for the first twelve (12) months of the agreement.

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4. Ohio State shall pay a retention payment as follows:

a. $450,000 if still employed as head coach on January 31, 2014;

b. $750,000 if still employed as head coach on January 31, 2016; and

c. $1,200,000 if still employed as head coach on January 31, 2018.

5. Ohio State shall pay Coach bonuses as supplemental compensation as follows:

a. Yearly Academic Progress Rate ("APR") as calculated by the NCAA:

APR of 990-999 - $100,000;

APR of 1000 or above - $150,000;

b. Graduation Success Rate ("GSR") for football as reported to Ohio State by the NCAA:

GSR of 70-79.99% - $100,000;

GSR of 80% or above - $150,000;

c. Big Ten Leaders Division Champion - $50,000;

d. Winner of Big Ten Championship Game - $100,000 plus an additional one year added to contract term. [If Big Ten discontinues the championship game during the term of the agreement, then Coach shall earn $100,000 plus an additional one year added to contract term if Ohio State is the regular season Big Ten Champion or Co-Champion]

e. BCS bowl game (not National Championship game) appearance - $150,000;

f. National Championship (#1 vs. #2) BCS bowl game appearance - $250,000;

6. Ohio State shall pay Coach a stipend of $1200/month, which shall be used to cover automobile costs for two automobiles.

7. Ohio State shall provide Coach a full golf membership at a mutually-agreed upon golf course. Ohio State shall pay the monthly dues, but Coach shall pay his personal expenses associated with such membership.

8. Ohio State shall fly Coach by private (not commercial) aircraft when Coach is making recruiting visits and other mutually-agreed upon University business. When such recruiting visits or University business are more than 200 miles from the City of Columbus, Ohio State shall fly Coach by private (not commercial) jet aircraft. Ohio State agrees to let coach use such jet aircraft for his personal use for thirty-five (35) hours [in-air and dead time inclusive] each year during the term of this agreement. Coach's use of such private aircraft for recruiting and other mutually-agreed upon University business shall not exceed fifty (50) hours [in-air and dead time inclusive] during each contract year.

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9. Ohio State shall provide Coach twelve (12) football tickets in Ohio Stadium to each home football game, as well as five (5) press booth credentials. Ohio State shall also provide Coach the use of a suite in Ohio Stadium for use by Coach's spouse and family. Coach shall receive two (2) parking passes for each home football game. Ohio State shall provide Coach two (2) tickets to each home men's basketball game. Ohio State shall also provide Coach with the opportunity to purchase an additional twenty (20) tickets to each home football game.

10. The parties agree that Ohio State has the exclusive right to its youth athletic camps, but Coach shall have the opportunity to earn supplemental compensation by assisting in the marketing, supervision, and general administration of summer football camps.

11. Coach shall appear on television and radio coach's shows and other media programs as requested by Ohio State. Coach shall assign to Ohio State all right, title and interest in his name, likeness and other indicia identified with Coach in connection with such media programming.

12. Ohio State will commit to working with Coach to create the Urban Meyer Fellowship for Ethics and Leadership in Sports for one or more students at The Ohio State University. Coach agrees to teach and support the fellowship initiative and work with the University to secure additional financial support to endow this initiative.

The parties recognize that this term sheet represents a preliminary understanding of the parties and shall form the basis of a formal agreement. Final agreement is subject to completion of a satisfactory background and compliance check, as well as approval of the Ohio State Board of Trustees.

URBAN F. MEYER

[Signature]
Date: 11/28/11

THE OHIO STATE UNIVERSITY

[Signature]
Eugene D. Smith
Associate Vice President and Director of Athletics
Date: [blank]

[Signature]
Geoffrey S. Chatas
Senior Vice President for Business and Finance and CFO
Date: 11/28/11

Page 5

[Signature]
Jeff M.S. Kaplan
President of The Ohio State University Foundation, Senior Vice President and Special Assistant to the President
Date: 11/28/11 

Posted on: November 23, 2011 12:37 pm
 

REPORT: Urban Meyer to coach Ohio State next year

Posted by Adam Jacobi

After weeks of rumors and speculation, the Columbus Dispatch is reporting the inevitable: former Florida head coach Urban Meyer will be Ohio State's next head coach. According to the report, Meyer's agreement is in principle, as contract details have not been arranged, but those are often not finalized until after a head coach has been officially hired.

Here's more from the Dispatch:

Two well-placed sources at Ohio State University confirmed for The Dispatch this morning that Urban Meyer will be announced next week as the next head football coach of the Buckeyes.

Also, the sources said that though interim head coach Luke Fickell has not been in the loop, he will be taken care of when or if Meyer accepts the job. In what capacity, the sources weren’t sure.

Meyer had been a head coach with Bowling Green and Utah for two years apiece before assuming the lead role at Florida in 2005. He led the Gators to two national championships (2006, 2008) before resigning due to health concerns after the 2010 season. Meyer made a similar resignation in 2009, vowing in December to coach the team's bowl game and leave aftwards, but he soon backed off that plan and coached the Gators as usual the next year.

Meyer is still only 47 (48 at the beginning of the 2012 football season), so youth would appear to be on his side. And yet, the health concerns that have dogged him at Florida have primarily been stress-related, so unless he takes a markedly different approach to coaching at Ohio State, it stands to reason that health may be a concern again. Of course, it also stands to reason that Ohio State is acutely aware of this fact and will adjust its expectations of Meyer accordingly. If both parties have agreed to an arrangement, the issue would almost certainly have to be resolved.

This report seems to refute Meyer's statement made Wednesday morning through ESPN, which read in full: "I have not been offered any job nor is there a deal in place. I plan on spending Thanksgiving with my family and will not comment on this any further." While it is generally agreed upon that there has been no formal offer of a job, to describe the situation as reported by the Dispatch as "no deal in place" strains the limits of linguistic semantics. 

Ohio State is still awaiting word from the NCAA on its football program's fate; the Buckeyes have been rocked by allegations of widespread impermissible benefits to past and present players, and the program has seen the resignation of beloved head coach Jim Tressel, permanent ineligibility for starting quarterback Terrelle Pryor, 12 vacated wins, and over 30 games' worth of suspensions handed down to current Buckeyes this season (including 10 for star wideout DeVier Posey, who just returned to play last Saturday). There has been no indication from the NCAA when the Committee on Infractions will rule on the OSU program, though it is expected to happen well before the start of next season.

 
 
 
 
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