Smith contract extension includes $2.5M buyout max
MINNEAPOLIS (AP) Minnesota's contract extension with coach Tubby Smith includes more incentives, a protection from in-season firing and a higher buyout the university must pay if he's dismissed after next season.
The university released details Friday of Smith's three-year extension through the 2016-17 season.
Annual figures for base salary and supplemental compensation are the same, close to $2 million this season with the 5 percent yearly raises he's entitled to. If Smith were to be let go between now and April 30, 2016, the university will pay half of his annual income for the rest of the contract. That amount cannot exceed $2.5 million.
Under terms of his original deal, Smith was to be paid $1.5 million if he were to be fired between now and the end of the 2012-13 season.