Days after saying he could see himself continuing to coach for “quite some time,” Bill Snyder has agreed to a new five-year contract with the Kansas State football team that will run through 2022.
Snyder, 78, is the oldest active coach in college football. He will be 83 when this contract expires.
The new contract will increase Snyder’s pay from $3.2 million to $3.45 million this season. His annual pay will increase by $300,000 at the conclusion of 2019 and 2020. If he remains coach at that time, he will sit down with K-State athletic director Gene Taylor and negotiate a new salary for the final years of his deal.
Taylor had been working with Snyder on a new contract since the end of the 2017 season, when the financial terms of Snyder’s old contract required an update.
“It has been a pleasure watching our football program up close over the past year and seeing one of the greatest coaches in the history of college football continue to positively impact student-athletes while also producing winning seasons on a yearly basis,” Taylor said in a statement. “With this new contract, we felt that it was important to recognize his commitment to our football program, and we look forward to his continued leadership.”
Snyder technically had five years remaining on his old contract, which featured an automatic rollover at the conclusion of each year. In that sense, this is more of a contract update than a contract extension. The new contract does not contain any rollover language.
It does include several new features, though. They are:
- K-State must pay Snyder a $3 million buyout if he is terminated without cause.
- K-State will pay for Snyder to receive a yearly physical exam at any medical center of his choosing.
- Snyder can spend up to $50,000 per year in business expenses.
- K-State will offer Snyder a three-scale bonus system. He will receive up to $100,000 for winning a Big 12 championship, up to $350,000 for winning a national championship and up to $100,000 for finishing in the top 10. He can also receive $30,000 for being chosen national coach of the year.
Two holdover perks from the previous contract:
- When Snyder decides to retire, he will become a special ambassador to the university at a yearly salary of $250,000. He can hold that job for as long as he is “physically and mentally able.”
- When the Wildcats look to hire Snyder’s coaching successor, Snyder will be given “appropriate input to the athletic director and the president regarding the selection of the next football coach.”
Snyder seems ready to continue coaching for the forseeable future. Earlier this week at K-State football media day, he said, “I could go on for quite some time if I don’t get fired and keep having an impact on the players in my program and my family is comfortable with it. I don’t see any particular end in sight.”
K-State hired Snyder as its football coach in 1989. He is entering his 27th year as coach after retiring following the 2005 season and returning in 2009.
The Wildcats were one of the nation’s worst college football teams when Snyder arrived, but he molded them into consistent winners and took them to 19 bowl games and two Big 12 championships. His career record is 210-110-1.
“My entire family and I have been so very grateful for the genuine, caring and loyal support K-Staters have provided our coaches, staff, families and young people on a yearly basis,” Snyder said in a statement. “And, as I have stated so often we came to Kansas State because of the people, stayed because of the people and returned because of the people, and that remains unchanged.
“We have continued to make daily improvement as a football program, and I am grateful for the opportunity to continue and will do so as long as I am healthy and feel that I am having a positive impact on our university, community and football program and the young men that are involved.”