By Chadd Cripe
© 2012 Idaho Statesman
Boise State football coach Chris Petersen’s new contract is worth $11,748,333 over five years — including a new $250,000 annual payment to purchase a license to use the coach’s likeness.
The contract must be approved by the State Board of Education at its meeting Wednesday and Thursday in Moscow. The State Board previously approved Petersen’s raise for this year.
— The annual salary, which includes longevity incentives, deferred compensation and pension payments, will be $1,706,333 in 2012, $1,898,000 in 2013, $2,098,000 in 2014, $2,298,000 in 2015 and $2,498,000 in 2016. The salaries include longevity bonuses that are only paid if he is still employed on Feb. 15 of the following year. For the last three years of the contract, that amount is $200,000.
— Petersen also will receive a $250,000 annual payment for the life of the contract as a licensing fee so that the university can use his “name, image, voice, signature, etc.” for marketing, promotion and merchandise. The licensing agreement is with Chris Petersen Enterprises, LLC. The agreement gives Petersen the right to veto any use of his likeness. It is an exclusive license.
Under his previous deal, Petersen would have been paid $1.625 million in 2012 and $9.125 million over five years. His pay in 2012 under the new contract is $1,956,333.
— As before, the contract is extended by a year each time the Broncos win eight games. It currently runs from Feb. 1, 2012, to Jan. 31, 2017.
— The performance bonus is $80,000 for winning a conference championship or reaching a conference championship game; or $35,000 for a bowl appearance; or $150,000 for a BCS appearance; or $250,000 for a national championship game appearance.
— The academic bonus is $40,000 for an APR of 955 or higher. The football program’s APR was 981 last year, which ranked in the top 10 percent of all FBS schools. The FBS average was 949.
— Petersen’s buyout is $750,000. The school’s buyout of Petersen is $250,000 per year left on the deal, plus any guaranteed money left in the deal, plus the pro-rated amount of his longevity incentive for the year he was fired. If Petersen leaves, he must do so after the end of the season, including a bowl game. The buyout applies to three kinds of jobs: FBS head coach, assistant coach at a school in Boise State’s conference or a conference Boise State has contractually agreed to join; or NFL head coach.
— Petersen receives a $100,000 raise for each extension year.
— Petersen can earn additional money from university-sponsored camps.
— Petersen must provide written (or e-mail) notice at least 24 hours before interviewing for a coaching job at another college or with a professional team.
— Petersen’s pay comes from athletic department revenue, not from state-appropriated funds.
The numbers are a little short of what Boise State previously announced, which was $2 million for this year and $12 million over five years. There are two reasons: Petersen pushed $25,000 per year from his contract to weight room salaries, and the rest of the difference is money the university contributes to Petersen’s retirement plan but is not reflected in the contract.
The Beat Coach Pete Scholarship Run/Walk on Saturday drew a record 2,300 participants and raised $40,000 for student scholarships. Petersen donated $5,310 — $5 for each of the 1,062 racers who beat him. Petersen ran the 5k in 28 minutes, 50 seconds.
The race has generated $138,000 in five years.
The 2013 race has been scheduled for Saturday, April 13.
Boise State held a shorter-than-usual, no-pads workout Monday to conclude spring ball. I’ll have my list of spring standouts in Tuesday’s newspaper.