Before USF officially announced Charlie Strong as the new head football coach, there were reports that Strong’s former contract with the University of Texas was a sticking point in the negotiation process.
Strong’s contract with Texas did agree to a $10 million buyout, but it also dictated that if Strong were to sign a contract with a different program during the remaining years of the existing contract with Texas, then Texas would be compensated with half of the value of Strong’s salary from his new contract during that time.
This morning, Joey Knight of the Tampa Bay Times reported that Strong’s contract with USF was worth $9.8 million over five years. Strong’s contract stipulations with Texas very much relevant in the minds of everyone at the negotiation table, USF back-loaded Strong’s contract.
The first two years of the new contract overlap with Strong’s previous contract with Texas, meaning that the Longhorns will receive half of his salary during those two years.
Making sure that they didn’t give their money to another program, each of the first two years of the new contract are valued at $1 million. After those two years, Strong’s annual salary jumps to $2.5 million and increases incrementally every year after that.
To sum it up, USF will only be paying $500,000 each year for the first two years, but Strong will still be receiving the $4.95 million he is owed by the Longhorns to coach USF. Not a bad deal for the Bulls, all things considered.