The ins and outs of Davis’ new contract
Central Michigan University Basketball Head Coach Keno Davis signed a five-year contract extension earlier this month that will keep him with the team through the 2019-20 season.
Central Michigan Life obtained a copy the contract between Davis and CMU. Here are the highlights:
Compensation
Davis will earn a base salary of $300,000 per year and receive an additional $100,000 per year for television, radio and promotional appearances.
His guaranteed salary of $400,000 a year is the second highest of all CMU coaches, behind football coach John Bonamego’s $475,000 annual income.
Davis can earn more than $250,000 in bonuses per season in achievement-based bonuses, which includes a $195,000 check for making and winning the National Championship Game.
Also included in potential bonuses are rewards for high attendance at McGuirk Arena. If the home attendance averages above 2,500 per year, Davis will receive $5,000. For every game sold out, Davis earns an additional $2,500.
The contract also includes Davis’ assistant coaches, where the top three full-time assistants can earn a combined $300,000 a year.
Breaking the contract
CMU can end Davis’ contract without pay if he violates his contract.
If CMU terminates Davis’ contract without cause, they will owe him a lump sum depending on the time remaining on the contract.
If they end the contract with three or more years remaining, they owe Davis $1 million. With two to three years remaining they owe $500,000 and with two or fewer years remaining they owe $400,000.
Davis would owe the university money if he decides to leave before his contract expires.
If Davis leaves with three or more years remaining, he owes $1 million. With two to three years remaining, he owes $500,000, with one to two years left he owes $300,000 and with less than one year left he owes $200,000.
