Fine Print: Kragthorpe's Contract

A look at the contract of new University of Louisville football coach Steve Kragthorpe.

Term: January 8, 2006 through June 30 2012

Steve Kragthorpe's football annual base salary is $550,000 (guaranteed). His contract also includes a media base salary of another $550,000 (guaranteed) for a total of $1.1 million.

Kragthorpe's contract includes several "Achievement Bonuses," including $25,000 is Louisville wins or is the co-champion of the Big East. He'll also receive 1/12 of his total base salary for reaching a bowl game, $25,000 if the team finishes in the Top 25 and $50,000 for finishing the season ranked in the Top 10. If Louisville plays in a BCS bowl, Kragthorpe will receive a $100,000 bonus and a $50,000 bonus for reaching the BCS championship game. The contract also includes bonuses for team GPA and graduation rates.

Kragthorpe's contact also includes other incentives. If Kragthorpe completes the term of his contract he'll receive $1.25 million and a $1 million annunity. He'll also receive use of two automobiles, one month paid vacation per year, golf membership at both Lake Forest Country Club and Cardinal Club. U of L will also remit to Tulsa $300,000 per tems of Kragthorpe's buyout provision with Tulsa.

Kragthorpe's contract also includes a fairly significant $2 million buyout if he terminates his contract with U of L before completion of the contract.


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