By Chadd Cripe
© 2012 Idaho Statesman
Boise State football coach Chris Petersen's new five-year contract was approved unanimously by the State Board of Education on Thursday. There was no discussion.
Here are the details, as I reported Monday:
— 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 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.