DblT81
10-08-2004, 09:41 PM
http://www.dfw.com/mld/dfw/sports/colleges/9808528.htm
Posted on Fri, Oct. 01, 2004
Knight, Sharp ink new deals
By Troy Phillips Star-Telegram Staff Writer
Texas Tech men's basketball coach Bob Knight and women's basketball coach Marsha Sharp signed five-year contracts that could reach $1.1 million and $1.05 million, respectively, in annual compensation, according to records released Thursday by the university.
Knight and Sharp agreed to the contracts in early June but didn't sign them until Sept. 22. Both will be paid $300,000 in base salary through the 2008-2009 season. All but $90,000 of Knight's base salary this season will go back to a university scholarship fund.
Knight's guaranteed outside income (camps, endorsements, apparel contracts, TV and radio appearances) will be $500,000 annually, and Sharp's will be $300,000. Both can earn a yearly guarantee bonus of $100,000 if Tech has to make up 10 percent or less of the guarantee each year.
Additionally, both will receive $1 million in deferred income over the life of their contracts. That money will be paid back to Knight over 10 years. Sharp will receive a lump sum in 2009.
Sharp's contract includes a yearly performance bonus of $50,000 for making the women's Final Four and $100,000 for winning the NCAA title.
Knight, who had discussions with Ohio State last summer about coaching there, had the buyout clause removed from his contract. Sharp's buyout remains. "A lot of contracts don't have buyout clauses anymore," Myers said.
Knight, Sharp, football coach Mike Leach, baseball coach Larry Hays and track and field coach Wes Kittley are all under contract for the next five years.
Posted on Fri, Oct. 01, 2004
Knight, Sharp ink new deals
By Troy Phillips Star-Telegram Staff Writer
Texas Tech men's basketball coach Bob Knight and women's basketball coach Marsha Sharp signed five-year contracts that could reach $1.1 million and $1.05 million, respectively, in annual compensation, according to records released Thursday by the university.
Knight and Sharp agreed to the contracts in early June but didn't sign them until Sept. 22. Both will be paid $300,000 in base salary through the 2008-2009 season. All but $90,000 of Knight's base salary this season will go back to a university scholarship fund.
Knight's guaranteed outside income (camps, endorsements, apparel contracts, TV and radio appearances) will be $500,000 annually, and Sharp's will be $300,000. Both can earn a yearly guarantee bonus of $100,000 if Tech has to make up 10 percent or less of the guarantee each year.
Additionally, both will receive $1 million in deferred income over the life of their contracts. That money will be paid back to Knight over 10 years. Sharp will receive a lump sum in 2009.
Sharp's contract includes a yearly performance bonus of $50,000 for making the women's Final Four and $100,000 for winning the NCAA title.
Knight, who had discussions with Ohio State last summer about coaching there, had the buyout clause removed from his contract. Sharp's buyout remains. "A lot of contracts don't have buyout clauses anymore," Myers said.
Knight, Sharp, football coach Mike Leach, baseball coach Larry Hays and track and field coach Wes Kittley are all under contract for the next five years.