Today at the press conference to introduce new athletic director Whit Babcock, Virginia Tech issued the details of his contract. Here's a picture of the handout, and here are the details:
BRADLEY WHITNEY BABCOCK CONTRACT TERMS
- Term: February 17, 2014 - June 30, 2020
- Annual Salary: $470,000; Minimum 5% raise per annum beginning January 1, 2015
- Annual Retention Incentive: $140,000 - payable beginning December 31, 2014.
- Annual dues: Blacksburg Country Club
- Courtesy cars: Two per annum
- Signing Bonus: $325,000
- Additional Note: With the exclusion of the signing bonus, annual first year compensation cap is $750,000.
Team performance bonuses:
1. FOOTBALL
a. Participation in a post-season bowl game, at the end of the 2014 season and/or thereafter, additional compensation equal to one and one-half month's salary.
b. Should bowl game be one of the College Football Playoff contests, bonus shall equal two months' salary.
c. Should team win the National Championship, additional $25,000.
2. BASKETBALL (Men's or Women's): National Championship win, $25,000 per team.
3. MEN'S BASKETBALL
a. Team makes a post-season NCAA tournament appearance: $15,000.
b. Team advances to Sweet 16 round of post-season NCAA Tournament: additional $10,000.
4. WOMEN'S BASKETBALL
a. Team makes a post-season NCAA tournament appearance: $10,000.
b. Team advances to Sweet 16 round of post-season NCAA Tournament: additional $5,000.
5. UNIVERSITY OLYMPIC TEAM SPORT wins a national championship: $15,000 per national championship team.
6. UNIVERSITY TEAM SPORT wins an Atlantic Coast Conference (ACC) championship: $10,000 per ACC championship.
7. STUDENT ATHLETE ACADEMICS
a. Cumulative intercollegiate student athlete grade point average is 3.0 or higher at the end of each academic year: $10,000.
b. Cumulative intercollegiate student athletes achieve an Academic Progress Rate (*APR*) 960 or above based on the APR formula of the NCAA at the end of the academic year: $10,000.