University of Illinois trustees recently approved a contract that has the potential of all stars align to pay thier new football coach Lovie Smith in the vacinity of $29 million over six years.
The Basic Breakdown:
Coach Smith will be paid $2 million per year for his first two seasons as the Fighting Illini's head honcho- according to the contact deal recently approved by the trustees. His salary then begins to escalate respectively over the next several years assuming he remains head coach at the University. His salary would become $3 million in his third year, and then $4 million in his fourth season, and then $5 million in years five and six.
In addition, Lovie Smith will be paid a $1 million bonus if he continues at Illinois for three seasons. then he is paid another $1 million again should he remain for all six seasons.
As a former Chicago Bears head coach and then the Tampa Bay Buccaneers head coach the newly minted head coach at University of Illinois could also be paid up to $1 million every season in performance bonuses.
The particulars of Smith's buyout should he is fired along the way have not yet been made public.
Scott Davis Fighting Illini