New Swinney contract nearing completion
|2016-04-09 14:30:55.0- -||
TigerNet learned Saturday afternoon that a new deal for Clemson head coach Dabo Swinney is done and just needs to be approved by the Board of Trustees to be official.
Details of the contract will be released once the BOT approves the contract, which should be in the middle of next week.
Swinney agreed to an eight-year deal in January of 2014 following the Tigers’ Orange Bowl win over Ohio St. In 2015, Swinney made $2.45 million as a base salary.
Starting with the base salary, it was learned that the maximum dollar amount a state employee can be paid each year is $2.45 million. As a result, Swinney’s contract was written with three separate documents, with each document stipulating a pay amount that adds up to the total amount.
For instance, in 2014 Swinney made $3.15 million. One document has the $2.45 million allowed by the state; a second document is a $500,000 licensing agreement (that amount will stay the same the length of the contract); and a third document is a supplemental page which will pay the remainder of the monies owed (in 2014, $155,000).
The licensing agreement – we all know that Swinney trademarked his name a few years ago and the school had to reach an agreement to use Swinney’s name and likeness in promotions. That total adds up to $500,000 per year for the life of the contract.
Swinney, 46, has guided Clemson to a 75-27 record in seven-plus seasons as coach, including a 47-14 record against ACC foes. He was hired after serving as the Tigers' interim coach midway through the 2008 season, and signed the eight-year contract in January 2014 that pays him about $3.3 million. That deal included a raise of more than $1.1 million and runs through the 2021 season.
TigerNet will have more once we find out details.
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