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January 23, 2013
After turning down an offer from Tennessee in December, Louisville football coach Charlie Strong said he and UofL Vice President and Athletic Director Tom Jurich would sit down to discuss the terms of a new deal. That new deal is now complete.
Strong and Jurich have agreed to terms that will make Louisville's football coach among the highest paid coaches in college football.
The terms of the new deal were released to CardinalSports.com and other media sources at noon on Wednesday. Here are some of the highlights:
- Strong's base salary includes $1.85 million in football salary and another $1.85 million in media salary making his yearly base salary $3.7 million.
- Strong's new deal includes a $1.25 million dollar "Incentive Completion Bonus" if he remains coach on June 30, 2015.
- Strong would receive a $1M Annuity at the age of 65 if he is coach at Louisville on June 30, 2015.
- Strong would receive another $1M complete bonus if he remains coach on June 30, 2016.
Jurich spoke with the media after the new deal was approved by a University committee. He said he was "relieved" to have the deal done and agreed to.
Strong and Jurich agreed on an eight year deal that would carry Strong through the 2020 season.
"I believe it provides stability for our program, and you know that is always something that I look for," Jurich said.
Strong can receive bonuses for everything from $25,000 for a conference championship or co-championship up to $100,000 if the Cardinals are selected for a BCS bowl.
For example: If Strong had this new contract this season, he would have received $3.7 million in base salary, a 1/12 base salary bonus for participating in a bowl ($308,333), $25,000 for winning the big East, $25,000 for being ranked in the final Top 25 poll, $100,000 for going to a BCS game, $50,000 for team GPA of 2.75-3.0 and $50,000 for a plus-950 APR.
If Strong were under his new contract this season, his total take would have been $4,258,333.33 plus two courtesy cars, a month paid vacation and a country club membership.