The new contract represents another strong commitment for Day after a period of resounding success to launch his career. The Buckeyes reached one national championship game under Day — the second in the college football playoff era — and went undefeated in the regular season in Day`s first two seasons. Ohio State head coach Ryan Day reaffirmed his commitment to the Buckeyes on May 18, signing a contract extension that would keep him in scarlet and gray through the end of the 2028 season. The buyback will decrease to $3 million from February 1, 2025 to February 1, 2026 and to $1 million per year over the next two years. The buyback is $750,000 for Day`s final contract year. Two other well-paid coaches, Nick Saban of Alabama and Jimbo Fisher of Texas A&M, do not have buyout clauses in their contracts. Coaching salaries continue to skyrocket as more money pours into college football. Notably, the Big Ten are negotiating a new media deal that is expected to bring the conference more than $1 billion annually, and Ohio State ranks among the most valuable brands in college athletics. For more context, here`s the comparison with other college football coaches whose contracts Boardroom has analyzed so far this season: Under his previous contract, Days Buyout would have been $2.5 million for the current contract year. Ohio State announced that Day will receive a two-year extension that will take his salary to a level that will tie him to the highest-paid coach in the Big Ten.
The contract is still subject to board approval, which will take place on Thursday. Here`s what we know about Day`s new contract with Ohio State: Several coaches, led by Kelly and Riley, signed eye-catching contracts to change jobs over the past cycle. In addition, Penn State`s Tucker and James Franklin signed gigantic overtime extensions to stay in their schools and not enter a coaching market with big fish like LSU, Oklahoma and Notre Dame during the same offseason. McGuff will receive a new four-year contract starting July 1 with a base salary of $675,000 and annual compensation of $1.05 million. McGuff recently completed his ninth year as coach of the women`s basketball team and has a 25-7 overall record and a Big Ten regular-season title after a 14-4 conference result. Boardroom dives into Ryan Day`s contract, with his salary details and bonuses at Ohio State. If Day terminates his contract before Feb. 1, 2023, he must pay $5 million to the university within 45 days of termination. This potential payment amount decreases by $500,000 each year if Day remains on board in the state of Ohio, dropping to $750,000 if he has to terminate his contract between February 1, 2028 and January 31, 2029. Since Day`s job is apparently safe at the moment — staying undefeated is a great way to not get fired — Buckeye fans might be more interested in learning how much it would cost another school to hire Day away from Columbus. If Day terminates his contract before Jan. 31, he (or his new employer) will owe Ohio State $5 million.
That number will decrease each year for the remainder of the deal according to the following schedule: Kirby Smart, coach of Georgia`s reigning national champions, recently signed a 10-year, $112.5 million contract. Its redemption for withdrawal is $5 million until December 31, 2024 and $4 million for the next three years. After that, it goes down by $1 million a year. Day, 43, did not sign the OSU contract offer in May because the details had not yet been worked out. He told The Dispatch at Big Ten Media Days in July that the deal was close to being finalized. Under his old contract, he would have earned $7.6 million in 2022. Day signed the contract last Wednesday. Ohio State University announced Tuesday that it has extended head coach Ryan Day`s contract by three years, through 2026. Minnesota P.J. Fleck is expected to be $10 million by the end of 2022 and $7 million thereafter. Paul Chryst is expected to pay Wisconsin $8 million for the remainder of his contract, which expires after January 2027. The purchase of Mike Locksley of Maryland is $7 million by the end of 2022, then drops to $5.
Overall, the Buckeye head coach will earn an annual salary of $9.5 million after a raise and a two-year extension. The new contract runs until the 2028 season. Theoretically, there is another side. Ohio State could decide to fire Day at any time, though that`s at least a few years away. But if that happens, Ohio State will owe him what`s left of his contract in the form of base salary, press fees, beverage sponsorship and clothing payments. With six years remaining on Day`s contract, that would add up to a total of $56.4 million paid monthly for two years if Ohio State severes ties at the end of the year (it won`t). When two-time national champion Urban Meyer took over the Buckeyes in 2012, he signed a $4 million contract. Now, $4 million is nowhere near the usual rate for Power Five coaches. Barely a decade later, coaches are constantly starting to climb the $10 million mark.
Ohio State is only the competition. According to a copy of Day`s contractual agreement obtained by Buckeye Sports Bulletin, Day`s annual compensation increased from $6,600,000 to $9,500,000 from 2021 to 2022. His planned base salary went from a previously agreed contract change of $1,550,000 to an annual base of $2,000,000 with monthly payments of $166,666.67. Ohio State also announced contract extensions for men`s lacrosse coach Nick Myers, who is the most successful coach in the program, and men`s hockey coach Steve Rohlik. Myers will receive a new five-year contract through the 2027 season. Rohlik will receive a two-year contract extension through the 2025-2026 season. COLUMBUS, Ohio (AP) — The increase in the buyout amount in Ryan Day`s contract extension probably won`t be enough to deter an NFL or college team looking to lease him away from Ohio State. Thanks to a contract extension he signed in early 2022, Day is one of the highest-paid college football coaches in the country, and if Ohio State continues to win, his bonus structure will allow him to earn even more. The terms of the contract include a buyout clause that would require a team — NFL or university — to pay Ohio State $5 million if it hires Day from the Buckeyes before Feb.
1, 2023. This number decreases by $500,000 from February 1, 2023 to February 1, 2024. It fell by $500,000 the following year. The buyback will decrease to $3 million from February 1, 2025 to February 1, 2026 and to $1 million per year over the next two years. The buyback is $750,000 for Day`s final contract year. Well, an NFL or college team will have to pay a hefty amount to keep the Ohio State coach away from Columbus. According to a report by Bill Rabinowitz, Day`s new contract includes a buyout, starting at $5 million if the head coach has to leave for a new job. Ohio State`s Ryan Day will receive a major extension and elevation that will make him one of the highest-paid coaches in college football.
The two-year extension, which was not yet approved Thursday, will keep Day in Columbus through 2028 and increase his total compensation from $7.6 million to $9.5 million per year, tying him up to Michigan State`s Mel Tucker as the highest-paid coach in the Big Ten. (The base salary of the day is $2 million). In college football, the money is equivalent to Brian Kelly`s new contract at LSU and is only behind the numbers reported for Alabama`s Nick Saban and USC`s Lincoln Riley, both of whom are expected to earn about $10 million or more. Day`s contract originally called for a $2.5 million buyout for the upcoming season if he left OSU, then cut by $500,000 each year. The new wording increases the buyback amount to $5 million by January 31, 2023 and decreases by $500,000 each year thereafter. Ohio State also announced new contracts Wednesday for men`s basketball coach Chris Holtmann and women`s basketball coach Kevin McGuff. Holtmann will receive a three-year contract extension, which will take him until the 2027/28 season. His annual salary increased by $500,000, bringing his total annual compensation to $3.5 million with a base salary of $1 million per year. Ohio State coach Ryan Day is expected to receive a two-year contract extension through the 2028 football season, making him one of the five highest-paid college football coaches in the country, subject to school board approval Thursday. Ohio State can break that down on paper as it wishes, but the fact is Day will earn $9.5 million a year under his new contract, which will put him tied with Brian Kelly (LSU) and Mel Tucker (Michigan State) and not too far behind Nick Saban and Kirby Smart for the highest-paid coaches in the game. Cleveland.com obtained the details through a public record request. Almost four months after the OSU`s announcement, the @ryandaytime contract has been concluded.
The buyout, if Day goes for another job, starts at $5 million, twice as much as in the previous contract. t.co/nB1bgITEAE Ohio State announced in May that Day had agreed to a contract extension that increased his annual compensation from $7.6 million to $9.5 million.