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Eric Musselman is paid to leave Nevada for Arkansas. Here are the full details of Musselman's contract, which he signed on Saturday. Musselman earned $ 1 million a year plus bonuses in Nevada.
* Length: Musselman's contract is for a term of five years and ends on April 30, 2024, although both parties may exit early while paying redemptions, which are described below.
* Annual compensation: Musselman will earn $ 2.5 million a year in compensation. So he basically signed a five-year contract worth $ 12.5 million.
* Raises: Musselman will receive an increase of $ 100,000 each time his team participates in the NCAA tournament, without exceeding $ 200,000 during the term. In addition, he can increase his annual salary by $ 250,000 a year when he first appears in Sweet 16; $ 350,000 a year with first place in Final Four; and $ 500,000 a year with its first national championship.
* If he is fired: If Musselman is fired at any point in his contract, Arkansas will owe him 70% of his remaining annual retainer due until the end of his contract, in the form of equal monthly payments until the end of his term. his contract.
* If he leaves early: If Musselman leaves Arkansas before April 30, 2021, he will owe $ 5 million to the school. The buyback falls to $ 1.5 million from May 1, 2021 to April 30, 2022 and $ 1 million from May 1, 2022 to April 30, 2024. After this period, the redemption is $ 750,000.
* His takeover in Nevada: Arkansas has agreed to pay Nevada the $ 1 million buyout from Musselman for breaking contact with the Wolf Pack.
* Bonus: The moulders would get $ 100,000 for a SEC regular season title or tournament; $ 25,000 to be the SEC 's year – round coach; $ 50,000 to be the NCAA coach of the year; and up to $ 25,000 in academic bonuses. His NCAA tournament bonuses are listed above in the "raises" section.
* Marginal benefits: Musselman will get 10 free basketball season tickets and five free season tickets for the rest of the Arkansas sports. He will be entitled to two free loan vehicles or a car allowance not exceeding $ 8,400 per year. He will receive $ 25,000 for moving expenses and three months of free housing following his move. He will get a free membership at a local golf club and athletic club.
His full contract is below.
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