As the college football season is coming to a close many teams, schools all over the country are looking to reform their programs, starting with coaches. According to USA today 72 college football coaches are making over $1 million a year and 36 over $3 million a year. But its not just about their yearly salaries, it’s the amount dished out for buyout contracts as well. For example, the new head coach at University of Iowa, Kirk Ferentz, would be guaranteed $25 million dollars even if he was fired after his first year. It is the cushioned contracts that give mediocre coaches an upper hand with powerhouse football schools.
No team wants a losing record, no more than the University of Texas. Previous winning coach, Mack Brown never had a larger buyout than $3.5 million until his resignation in 2013. While the most recent coach, Charlie Strong, has a buyout of $11 million. Todays coaches have more leverage because if they’re likable, they’re payable.
Michigan coach Jim Harbaugh is getting paid $9 million this year which makes him the highest paid coach in the country. But what makes a big name like Harbaugh so desirable? Well, it has a lot to do with recruiting. Having an asset like a respected, favored coach is worth the money to schools struggling to get top recruits.
The world of college sports is constantly changing, we see this time and time again with the flip flop of so many top football programs rising and falling each year. Perhaps it is time for schools to considering shorter contracts, or more revisions on buy-outs. Every school wants to be the best they can be, and they should not have to suffer financially to get there, well at least, not that much.