Ohio State AD expected to pick up Tressel’s contract extension
Sunday, January 22, 2006
<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR><TD>[FONT=Verdana, Times New Roman, arial, helvetica, sans-serif]SUNDAY SPECIAL BY TODD PORTER[/FONT]
When Gene Smith comes to lunch Monday at Four Winds restaurant, his meal will be on the Pro Football Hall of Fame Luncheon Club.
But the Ohio State athletics director knows he is about to open the university’s wallet to extend Head Coach Jim Tressel’s football contract.
Tressel’s impending contract extension is sure to get a great deal of attention from the audience during Smith’s visit. Ohio State is not in danger of losing Tressel, who’s deal runs through the 2008 season.
That contract, which was redone after Ohio State won the 2002 national title, was a six-year deal that paid him $1.3 million in the first year and tops out at $1.87 million in the final year. There are other incentives, but the only bonus Tressel has met is that of his team’s academic performance.
That money is earmarked for scholarships, though Tressel decides where it goes. The only on-field incentive is a $200,000 bonus if Ohio State plays for a national title. Tressel also is due $1.5 million in deferred compensation if he remains at Ohio State during the duration of this contract.
The extension, signed in 2003, has a provision for a three-year extension through 2011 provided Tressel and the university agree by March.
Smith has made it known he plans to exercise that option, if not go beyond it. Don’t be surprised to see an extra three-year extension added, keeping Tressel at Ohio State until 2014.
The new contract probably will pay Tressel more than $2 million per season. That’s still a bargain by major college football coaching standards.
During the last negotiation, Tressel opted to increase his coaching staff’s salaries as well, which took money from his pocket and put it in theirs.
Notre Dame Head Coach Charlie Weis signed a 10-year contract that pays him between $40 and $50 million. Tressel’s pay is equivalent to that of Michigan State’s John L. Smith, Iowa’s Kirk Ferentz and Minnesota’s Glen Mason.
A raise to $2.5 million per season would match Florida State’s Bobby Bowden and pay Tressel more than Virginia’s Al Groh, who raked in $1.7 million this year. Groh went 7-5 and beat Minnesota in the Music City Bowl.
Smith wants to start working on a new contract for Tressel after national letter of intent signing day Feb. 1. Not many insiders expect there to be a problem.
Tressel is scheduled to be at the Luncheon Club on March 13. By that time, he could pay for lunch.
PERKS FOR TRESSEL
In addition to his base salary, Tressel receives a couple of nice perks. He and his wife, Ellen, are provided cars. Tressel also gets 10 hours per year of personal use of the school’s private plane, and the school has to fly him to university-related business 200 miles or more away. He also has the option of flying to all out-of-state recruiting trips.
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