Monthly Archives: March 2024

Coach Craig Smith’s Contract with University of Utah

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It’s been three seasons since Craig Smith left Utah State University to be hired as the head coach for the University of Utah. Utah’s regular season came to an end last night with a loss to Colorado in the PAC 12 Tournament. Coach Smith just completed his third regular season at Utah with a 40-40 overall record and no postseason appearances yet to his name. USUStats has obtained Coach Craig Smith’s Official Contract with the University of Utah.

The contract is a six-year agreement beginning with the 2021-22 season and ending at the end of the 2026-27 season.

Base Pay (Including Media, Appearances, and Outfitter Compensation):

Year 1 (2021-22) – $1,800,000
Year 2 (2022-23) – $1,900,000
Year 3 (2023-24) – $2,000,000
Year 4 (2024-25) – $2,100,000
Year 5 (2025-26) – $2,200,000
Year 6 (2026-27) – $2,300,000

The base pay described above includes $300,000 in base salary, $550,000 in TV and Radio compensation (with $50,000 yearly increases), $550,000 in Appearance Fees (with $50,000 yearly increases), and $400,000 in an Under Armor Outfitter Agreement per year.

Deferred Retirement Payment:

The agreement includes $50K distributed to a 403b retirement account annually.

Retention Bonus:

As long as Coach Smith remains employed on Jan 15, 2025, he is entitled to a $150K retention bonus.

Incentive Bonuses:

Gross Ticket Revenues of $2,000,000 = $25,000
Gross Ticket Revenues of $2,250,000 = $35,000
Gross Ticket Revenues of $2,500,000 = $45,000
Gross Ticket Revenues of $3,000,000 = $75,000

Pac-12 Regular Season Champion or Co-Champion = $50,000
Pac-12 Top 4 Finish (determined by conference tournament seeding) = $35,000
Pac-12 Conference Winning Record = $20,000

Pac-12 Tournament Champion = $25,000
NCAA Tournament Berth = $25,000
NCAA Tournament First Four Win = $25,000
NCAA Tournament Per Win (other than first four win) = $50,000
Conference Coach of the Year = $25,000
National Coach of the Year (Naismith or NABC) = $50,000

National Ranking (one of the following)
Nationally Ranked Top 25 at any point after Jan 1 = $10,000
Finish Season Top 25 = $25,000
Finish Season Top 10 = $50,000

APR Bonus (one of the following)
APR of 950 = $25,000
APR of 970 = $30,000
APR of 990 = $50,000

Total Potential Bonus Payout = $675,000

Buyout Clause (in my own words):

If Utah were to terminate the agreement for convenience (i.e. Utah fires Smith for low performance), they are required to pay 100% of the pro-rated amount of base pay (including media, appearances, and outfitter amounts listed above) still remaining on the contract.

For example, if Craig Smith were to be fired at the end of the 2023-24 season, he would be owed $6,600,000.

If Coach Smith were to terminate the agreement for convenience (i.e. Smith leaves for another position elsewhere) the buyout owed to the University of Utah would be as follows:

  1. Contract Year 1: $11,000,000
  2. Contract Year 2: $8,500,000
  3. Contract Year 3: $6,000,000
  4. Contract Year 4: $2,500,000
  5. Contract Year 5: $1,000,000
  6. Contract Year 6: $0.0

The actual contract is vague on how this schedule works, but I am assuming that if Smith leaves the team during the contract Year listed above, he owes that current amount. So if he leaves after the 2023-24 season (on or after April 1, 2024) he would owe $2,500,000 as he would be in Contract Year 4 at that point.

Click the image below to download the full initial contract agreement.

Coach Danny Sprinkle’s Official Contract with Utah State

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Coach Danny Sprinkle has worked miracles at Utah State since being hired before the 2023-24 season. Not only is he a shoo-in for Mountain West Coach of the Year, but he is also in the running for National Coach of the year. Coach Sprinkle returned zero points, assist, and rebounds from last season’s team, built a brand new roster and amazingly won the Mountain West Conference outright. And this wasn’t any old Mountain West Conference this year. This was possibly the best Mountain West Conference ever with upwards of 6 teams headed for the NCAA Tournament.

While Danny and team were cutting down the nets last night in the Spectrum after a hard fought victory over the New Mexico Lobos, the fans couldn’t help but wonder how long he would remain at Utah State. Chants of “Danny Sprinkle… (clap clap clap-clap-clap)” rang through the Spectrum during the Senior Night ceremonies and the net cutting ceremony.

Back in May, USUStats was able to obtain Coach Sprinkle’s Initial Contract that was a high level agreement between Coach Sprinkle and Utah State, but not his official contract that includes all the details. Since then, USUStats has obtained Danny’s Official Contract.

Here’s the breakdown of what is included in the contract:

Base Pay (Including Media Compensation):

Year 1 – $900,000
Year 2 – $925,000
Year 3 – $950,000
Year 4 – $975,000
Year 5 – $1,000,000

The base contract is five years at $900K per year with a $25K raise each year.

Bonuses:

Team wins the National Championship = $100,000
Team qualifies as a Final Four Participant = $50,000
Team wins the Conference Tournament Championship = $25,000
Team wins the regular season Conference Championship (either outright
Champion or Co-Champion) = $15,000
Team maintains a single-year Academic Progress Rate (APR) of 950 = $10,000
Team granted an at-large NCAA Tournament Bid = $20,000
Team wins an NCAA Tournament Game (including a First Four Game, but excluding the National Championship Game) = $20,000
Note: each win at an NCAA Tournament will qualify Coach for a $20,000
incentive payment.
Team invited to the National Invitation Tournament = $10,000
Team wins the National Invitation Tournament Championship = $10,000
Team is ranked (Associated Press Poll) at the end of a season in the:
Top 10 = $50,000
Top 20 = $25,000
Top 25 = $10,000
Note: This category of supplemental compensation is mutually exclusive,
meaning that only one amount will be paid if the Team is ranked within the Top 25 (e.g. If the team was ranked as 14, then $25,000 would be awarded; NOT $25,000 for the Top 20 AND $10,000 for the Top 25.
Coach is selected as the “Conference Coach of the Year” by the Conference as voted by the Conference coaches = $10,000
Coach is selected as the national “Coach of the Year” by the Associated Press, the Atlanta Tipoff Club (Naismith College Coach of the Year), or the National Association of Basketball Coaches (NABC) = $25,000
Team wins a rival game against BYU or University of Utah = $5,000

Buyout Clause (in my own words):

If Utah State were to terminate the agreement for convenience (i.e. USU fires Sprinkle for low performance), they are required to pay 75% of the pro-rated amount of base pay still remaining on the contract.

For example, at the start of his employment, Coach Sprinkle has a total of $4,750,000 in remaining salary on the 5-year agreement. If he were to be immediately fired, he would be owed 75% of that which would be $3,562,500. If he were to be fired after the completion of his second season he would be owed $2,193,750 ($2,925,000 * .75).

The same goes for the inverse. If Coach Sprinkle were to terminate the agreement for convenience (i.e. Sprinkle leaves for another position elsewhere) the buyout would also be 75% of the remaining cumulative salary owed. However, there is an extra clause that favors Coach Sprinkle the longer he stays at Utah State. The buyout is reduced to only 50% of the remaining salary after the completion of the second year as coach (April 1, 2025), and for the remainder of his contract. So if Sprinkle were to leave after his first year at Utah State, he would be required to pay USU a buyout of $2,887,500 ($3,850,000*0.75).

Click the image below to download the full initial contract agreement.