University of Minnesota officials released details of Tubby’s new contract extension yesterday, and it’s always good to see a guy like Smith rewarded for his hard work. Specifically, the contract contains “a $600,000 base salary plus 5 percent annual raises he’s been entitled to since 2008 and supplemental compensation of $1.2 million for duties like fundraising, community involvement and endorsements,” according to CBSSports.com.
The extension also contains a termination clause of $1.5 million if Tubby is fired before April 30, 2013, and he can’t be dismissed without cause between the Gophers’ first and last games of the season. The contract has a $2.5 million buyout max. Also, interestingly, the new and improved contract has certain built-in triggers that automatically extend the contract by one year should any of them be met. They include: “[winning] a Big Ten regular-season championship, a Big Ten tournament championship or [reaching] the round of 16 or further in the NCAA tournament in any given year.” The Big Ten championships are a pretty lofty goal, considering that Indiana is a unanimous pre-season top three team nationally, and Thad Matta always seems to do well at Ohio State. Throw in Tom “Never Count Him Out” Izzo and the Spartans, and the Big Ten is a perennially tough conference. However, the Sweet Sixteen seems imminently reachable for a coach like Tubby, and we all know that anything can happen in March. He hasn’t won a tournament game since his arrival there, but he’s a talented coach, and it seems like it’s only a matter of time. It’s funny to think that a coach can get a whole extra year on his contract for winning two games in a row in the tournament, but that’s the way it works. The Sweet Sixteen is very big deal for any school, and it shows how spoiled we are that we would have been (rightfully) disappointed with a third-round loss in any of Cal’s three years here.
Also, if Tubby wins the National Championship, he’s in for a cool $1.5 million. Hey, just in case, right? But really, it’s great to see him get an extension that provides added bonuses like these, and we wish him all the best. Unless we play him in the tournament. Then it’s on like Donkey Kong.