I heard the news that Dayton Flyers head coach Bryan Gregory would be taking the job at Georgia Tech.
In 2009, just two years ago, Gregory agreed to a five-year contract extension with the University of Dayton. That contract would have taken him through the 2017-18 season. Showing the worthlessness of collegiate coaching contracts for non-powerhouse programs, Gregory has decided to take his services elsewhere.
Of course, the really interesting thing here ends up being money. This decision all comes down to compensation.
According to the information I can find, Brian Gregory was making about $480,000 at Dayton. I believe that was prior to the signing of the extension. According to new reports, Gregory was making in the $750,000 area. For comparison, the public school, University of Massachusetts reports their head coach Derek Kellogg’s salary at $476,000. It’s probably safe to say that represents the market for an Atlantic 10 head basketball coach — the $400,000 area being the low-end and the $750,000 number being the higher end. That said, Gregory had proved himself over his 8 seasons in Dayton. Although he missed the NCAA tournament again this year, and had only made it twice in his tenure, he obviously felt he was worth more.
The Atlanta-Journal Constitution got their hands on the email from Georgia Tech to Coach Gregory. Here is the salary piece of the email:
The employment contract will be for a term of six years.
Your compensation as Head Men’s Basketball Coach will be the following:
• Annual base compensation of $ 1,000,000, with no escalating value for at least the first two years:
Apparel & Equipment $50,000
GTAA Public Appearances $50,000
That equates an even $1,000,000 of base compensation annually. Of course there are also variable incentives:
• Incentive compensation for achieving athletic performance goals as follows:
o ACC Champion (includes tie) =$ 75,000
o ACC Tournament Champion = $ 50,000
o NCAA Tournament Appearance = $ 25,000
o Each NCAA Tournament Win = $ 25,000
o Final Four Appearance = $100,000
• Incentive compensation for achieving academic performance goals as follows:
o Graduation Success Rate equal to or greater than 70% = $ 75,000
o APR Rates (payment amounts not cumulative)
• Greater than or equal to 930
• Greater than or equal to 940
• Greater than or equal to 950
The variable piece seems quite standard for an unproven ACC coach. That said, I always love some of the other interesting perks in these contracts. Such as the $1300 monthly vehicle stipend that Gregory will receive. That is topped, of course, by the “mutually agreed upon Country Club Membership” for the coach.
Another interesting part of the email pertains to the buy-out clause.
Provisions allowing the ASSOCIATION to terminate your employment without “good cause” that would require the following payment to you based on a percentage of the remaining value of base compensation under the contract:
100% of Year 1
plus 100% of Year 2
plus 75% of Year 3
plus 75% of Year 4
plus 50% of Year 5
plus 50% of Year 6
Those are some potentially serious costs for the university. This goes to show why Georgia Tech just got stuck with a hefty bill on Paul Hewitt’s contract. Georgia Tech had to pay Hewitt $7.5M just to terminate him. In addition, Georgia Tech agreed to pay $750,000 to Dayton for Coach Gregory’s buy-out.
This whole coaching thing can get expensive for these universities.