CPR's new contract details
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    CPR's new contract details

    Go Cyclones - Rhoads to make $1.6 million in 2012

    Iowa State football coach Paul Rhoads is set to get a $450,000 raise this season.

    Rhoads will make $1.6 million next year as part of his new 10-year contract, ISU athletic department officials told the Ames Tribune. Rhoads made $1.15 million in 2011.

    The new contract, which was announced in December, will pay Rhoads an additional $100,000 every year through the 2021 football season, athletic department officials said.

    The total salary compensation for the 10-year deal will equal $20.5 million. Rhoads won’t make $2 million until 2016 and he will make $2.5 million at the end of the deal in 2021.

    The contract is currently being finalized and also includes two retention clauses and a buyout, according to athletic department officials. There is a $300,000 retention bonus due to Rhoads after the third year and another $300,000 bonus after the sixth year. The buyout for the contract is $750,000 times the number of years left on the deal.




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    Re: CPR's new contract details

    So if he left this year his buyout would only be 7,500,000?



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    Re: CPR's new contract details

    Let see PITT try and scrounge up that much for a buyout!! HA!



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    Re: CPR's new contract details

    Quote Originally Posted by cyhiphopp View Post
    Let see PITT try and scrounge up that much for a buyout!! HA!
    I would assume the buyout is if we fire him.



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    Re: CPR's new contract details

    Quote Originally Posted by azepp View Post
    I would assume the buyout is if we fire him.
    Actually, it is probably binding on both parties. So if fired or hired away, $750000 times years left, according to the contract language.


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    Re: CPR's new contract details

    Quote Originally Posted by azepp View Post
    I would assume the buyout is if we fire him.
    Not uncommon and wouldn't surprize me at all if that buyout goes both ways and protects ISU's investment in CPR


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    Re: CPR's new contract details

    Quote Originally Posted by joefrog View Post
    Actually, it is probably binding on both parties. So if fired or hired away, $750000 times years left, according to the contract language.
    2 things that tells me-
    1)CPR has every intention of staying here if he's agreeing to someone else ponying up major cash to get him

    2) If he does go somewhere else it will be a huge step up pay-wise


    Exaggeration is a BILLION times worse than understating.

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    Re: CPR's new contract details

    Quote Originally Posted by joefrog View Post
    Actually, it is probably binding on both parties. So if fired or hired away, $750000 times years left, according to the contract language.
    I hope so.



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    Re: CPR's new contract details

    Nice numbers. If CPR is happy, I'm happy. No doubt the contract will be re-done as the victories go up, and we have to finally expand JTS to meet the demand.


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    Re: CPR's new contract details

    Quote Originally Posted by joefrog View Post
    Actually, it is probably binding on both parties. So if fired or hired away, $750000 times years left, according to the contract language.
    Pretty sure this is how it works.

    Remember that Creighton had to pay to get McDermott after they were paid by Oregon.




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    Re: CPR's new contract details

    Quote Originally Posted by cyingreen View Post
    Nice numbers. If CPR is happy, I'm happy. No doubt the contract will be re-done as the victories go up, and we have to finally expand JTS to meet the demand.

    This is just base salary if I'm not mistaken. CPR had one of the bigger incentive based bonus packages with his old contract. I would assume he still has a lot of those built in which will give him a good boost for any future accomplishments as well.



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    Re: CPR's new contract details

    Quote Originally Posted by joefrog View Post
    Actually, it is probably binding on both parties. So if fired or hired away, $750000 times years left, according to the contract language.
    Really? Not doubting you, I would just assume that if CPR is doing his job to the letter of the contract, but we decide to get rid of him, we owe him the balance of the contract no matter what. That's why I didn't go to law school I suppose.



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    Re: CPR's new contract details

    Quote Originally Posted by cyhiphopp View Post
    This is just base salary if I'm not mistaken. CPR had one of the bigger incentive based bonus packages with his old contract. I would assume he still has a lot of those built in which will give him a good boost for any future accomplishments as well.
    I'm would be very interested to see the incentive numbers. Didn't 7 wins last year mean he would have gotten something like a 200k bonus.



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    Re: CPR's new contract details

    Quote Originally Posted by PabloDiablo View Post
    I'm would be very interested to see the incentive numbers. Didn't 7 wins last year mean he would have gotten something like a 200k bonus.
    I believe so. There were incentives for conference championship, number of wins, and others.



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    Re: CPR's new contract details

    I like it


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