One day removed from signing Ron Prince to a new five-year deal, Kansas State athletic director Bob Krause was still basking in the afterglow.
“I find the timing is great from the standpoint of, ‘Look, this is a commitment to the program on one of many fronts,’ ” Krause said Friday. “This makes a statement of commitment and confidence. It’s important for our student-athletes to know that we have confidence in him.”
Poring over the details of the contract, which was obtained by the Wichita Eagle and The Kansas City Star on Friday, it’s clear K-State believes the program is on the upswing.
Look at the bonuses. Prince, who will make $1.1 million each of the five years, would receive $100,000 if K-State reaches the Big 12 championship and $150,000 if the Wildcats should win. There’s $100,000 for an appearance in a non-BCS bowl berth, $150,000 if K-State reaches a BCS game, $200,000 for a non-winning appearance BCS title game and $250,000 for winning the BCS title game.
Prince earns $100,000 if K-State finishes in the Top 25 in the season-ending AP or USA Today/ESPN poll; $150,000 if the Wildcats finish in the Top 10 in either poll; and $250,000 if K-State is atop either poll. These bonuses are not cumulative — the highest level ranking will pertain to the bonus paid.
In addition, there’s $25,000 for a home sellout the entire season; $30,000 for being named Big 12 coach of the year; $35,000 for coach of the year from 15 different media entities such as Sports Illustrated, espn.com and others; and $60,000 if Prince claims the Bear Bryant Award as the American Football Coaches Association coach of the year.
If K-State becomes eligible for a bowl game, simply winning six games, another year will be added to his contract. If the Wildcats become bowl-eligible in Prince’s third, fourth or fifth year, his contact may be extended an additional five seasons.Prince will receive a $250,000 bonus upon completion of the initial five-year contract.
“Where we’re at, nothing would tickle more than to have bonuses earned,” Krause said.
Then again, K-State can fire Prince, without cause, for $1.2 million before Dec. 31, 2009. The amount drops to $900,000 by Dec. 31, 2010, $600,000 by Dec. 31, 2011 and $300,000 by Dec. 31, 2012.
There is a provision that says if the university president or athletic director leaves within the term of the contract, Prince is entitled to revisit the agreement with the new president or athletic director. That doesn’t eliminate the terms agreed upon, however, and the university isn’t required to renegotiate the contract. But Prince may leave the school without penalty.
With Jon Wefald’s retirement scheduled for the end of the scholastic year, this seems interesting, but Krause insisted it was standard in most contracts.
And Prince took care of his coaching staff, too. In his original deal, signed in 2005, the pool of money allocated for his assistants was $1.2 million. The deal bumps that sum to $1,349,2000.