This talk you've heard recently of Bob Stoops' $3.45 million salary? It's not quite right.
But with incentives, Stoops should almost reach the $3 million mark for 2006.
Stoops' guaranteed income for 2006 was $2.5 million; for 2007, it increases to $2.6 million.
Stoops' guaranteed income for 2006 was reported last month by USA Today as $3.45 million — $950,000 more than the $2.5 million guaranteed under terms of his contract.
The higher figure was derived, in large part, when USA Today added a prorated portion of a $3 million "stay bonus” Stoops is scheduled to receive Dec. 31, 2008.
Although Stoops was not paid any portion of the $3 million in 2006, the newspaper added $750,000 in deferred compensation in an attempt to make comparisons between his contract and other coaches' contracts more valid.
Another $200,000 came from outside income reported by Stoops to OU: $50,000 from various speaking engagements and $150,000 from an endorsement campaign for OU Medical Center. Those payments raised his 2006 pay to $2.7 million.
In addition, Stoops is scheduled to receive $260,000 in "performance bonuses” for 2006, which would raise his total income for last year to $2,960,000.
Stoops' contract, which runs through Dec. 2011, calls for a $100,000 raise each Jan. 1. Last Monday, Stoops' guaranteed income for 2007 increased to $2.6 million.
It won't be known until July what, if any, outside income (like the $200,000 he received in 2006 from speaking engagements and OU Medical Center) Stoops will receive in addition.
With performance bonuses, he could make as much as $745,000 more.
The contract Here's how Bob Stoops' contract breaks down for 2007: Base salary: $200,000
Personal services: $1,800,000
Speaking engagements: $600,000
Guaranteed total: $2,600,000
Performance bonuses:
• $60,000 for participating in the Big 12 championship game OR $80,000 for winning the Big 12 championship
• $65,000 for participating in a non-BCS bowl game
• $100,000 for participating in a BCS bowl game OR $150,000 for participating in the BCS national championship game
• $250,000 for winning the BCS national championship
• $75,000 for a Top 10 finish in the BCS rankings OR $50,000 for a Top 20 BCS finish
• $30,000 for being named by the Big 12 Conference as its coach of the year
• $60,000 for being named by the Associated Press as national coach of the year
Graduation rates: Stoops would receive $40,000 for a graduation rate of 65 percent or better; $50,000 for 75 percent or better; $60,000 for 85 percent or better; $100,000 for 100 percent. (Note: In ratings released last September, Oklahoma's football program had a "graduation success rate," as calculated by the NCAA, of 52 percent; the federal graduation rate was 44 percent).
In addition, Stoops is also provided with:
• 2 automobiles and insurance
• 35 hours annually of private airplane use
• Membership and monthly dues at a Norman-area golf course
• 20 football tickets
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