Butch Davis' raise
North Carolina football coach Butch Davis’ $291,000 raise, announced in November along with a one-year contract extension, is not quite as hefty as it sounds.
According to the new contract, released Friday, $157,000 of the raise actually comes from the retention bonuses that would have been paid to Davis under his old contract had he stayed through January 2012, and then January, 2014.
Under the old contract, $100,000 per year was to be paid into a deferred compensation accounts for the first five seasons, then $300,000 for the next two.
“The difference is, the retention bonus that was in the old contract was accumulated and paid out in intervals,’’ athletics director Dick Baddour said. “So what we did is decided to pay that on an annual basis if he’s here through June 30 of every year.”
The rest of the $134,000 raise comes from and increase of base salary ($29,000 more), expense account ($5,000 more) and supplemental income ($100,000 more)
The rest of the raise comes from a $29,000 salary increase, a $5,000 expense increase and an additional $100,000 a year in supplemental compensation.
The only other change: If the Tar Heels are invited to participate in an ACC first- or second-choice non-BCS bowl game, Davis will receive a bonus of two-months salary instead of one.
“That’s more in line with what we’re doing with Coach [Sylvia] Hatchell and Coach [Roy] Williams,’’ Baddour said.
If Davis chooses to leave UNC without cause and takes another coaching position prior to January 15, 2014, he will still owe the school a penalty ranging from $2 million to $700,000, depending on the season. His new contract furns through Jan. 15, 2015.
[More at http://blogs.newsobserver.com]
