Newly hired USF head coach Charlie Strong and FAU’s Lane Kiffin have some interesting contract details according to sources that ought to interest their respective fan bases.
Let’s begin with Charlie Strong. He signed a 5 year $9.8 million deal, but the meat is in the details of this deal. It’s heavily back loaded. Meaning that the money he received from the Texas buyout will still be heading into Strong’s account. When all is said and done, Texas will only be able to offset $1 million of the $11.2 million of the buyout. The first two years of the contract with USF is $1 million a year, but averages $500K base with other compensation.
The buy out for this contract decreases from $2.5 million at the end of 2017 down to $1.7 million towards the end of the deal. This looks like a great deal for both parties. Strong basically will lose little of his huge buyout from Texas and if for whatever reason it doesn’t work at USF for Strong, USF is protected too. A total win-win scenario for everyone involved. One you don’t see very often.
Let’s head to the East Coast of the state to Boca Raton and take a look at Lane Kiffin’s contract. It’s a deal that will average Kiffin around $1 million a year with other incentives attached that could raise that figure slightly. This is also a more backloaded deal, which is certainly going to be lower than the $1 million a year.
For Kiffin, this is certainly a pay cut. His salary as Alabama’s OC was $1.4 million in 2016. Certainly the no state income tax in Florida helps, but from a financial stand point this is a clear step back wards. It’s obvious Kiffin was desperate to be a head coach again, after tough stints in Oakland, University of Tennessee and USC.