Hey folks,
Just got ahold of a copy of the memorandum of understanding signed between Tom Crean and the University. We'll have a story for you on Monday, but here are some of the highlights: -Annual base salary is $600,000. -Use of two vehicles provided by the University. -Contract buyout is $3,000,000 in the first three years, $2,000,000 in the second two and $1,000,000 in the last three. -Acknowledgment of the fact that coach and staff will work under and must comply to sanctions on the program. -If terminated before the end of the eight-year contract, the University will pay the lesser of: 1) Crean's remaining salary or 2) $3,000,000. -IU paid $650,000 to buy out Crean's contract with Marquette.
Pay scale (Total per year) Year 1: $2,000,000 Year 2: $2,080,000 Year 3: $2,160,000 Year 4: $2,240,000 Year 5: $2,320,000 Year 6: $2,400,000 Year 7: $2,480,000 Year 8: $2,560,000
Like I said, we'll have a full story for you on Monday, but for now, what do you think? Does the pay scale make you flinch? Is it necessary? What about the buyout? Sound off below.
