Posted: Jan 23, 2013 1:47 PM by Alan Cutler
Updated: Jan 23, 2013 1:51 PM
Charlie Strong has a new contract to coach Louisville through 2020.
The Big East Coach of the Year for the second time in 2012, is 25-14 in three seasons. He has taken Louisvlle to bowl game every season and beat third-ranked Florida in the 2013 Sugar Bowl.
Strong's contract is for 8 years and guarantees him $3.7 million a year through the 2020 season.
The contract makes Strong the seventh-highest paid coach in college football.
Although coaches break contracts all the time, the odds of Strong leaving Louisville anytime soon isn't likely.
Someone, either Strong or his new employer, would have to pay Louisville $5 million if he leaves after next season or $4.375 million after the 2014 season. The buyout declines every year he stays.
Strong's contract also includes a number of incentives like an additional $100,000 for reaching a BCS bowl, $50,000 for a BCS championship, $50,000 for being named Big East coach of the year, and $50,000 for being named national coach of the year, in addition to other academic and performance incentives.
After three seasons under this new contract, Strong gets a bonus of $1.25 million plus a $1 million annuity. That would boost the three-year value of the new contract to $4.45 million annually.
He would also pick up a $1 million bonus if he completed the 2016 season and $200,000 after the 2017 and 2018 seasons.