Alabama Crimson Tide head football coach Nick Saban received a hefty contract extension on June 3 which was approved by the university's trustees. He will receive $6.9 million annually with his contract being extended until Jan. 31, 2022.
Alabama Crimson Tide head football coach Nick Saban received a hefty contract extension on June 3.
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Alabama's official athletics website issued a press release on the matter:
"The Compensation Committee of the University of Alabama Board of Trustees approved the contract extension for head football coach Nick Saban on Tuesday. The new agreement extends the contract through January of 2022.
"'We are pleased to announce that Coach Saban's contract extension has been approved and that he'll be our head football coach for many years to come,' said Bill Battle, University of Alabama Director of Athletics.
"'He is the best coach in the country and he's brought Alabama back to the pinnacle of college football. His success on the field is obviously second to none, but Coach Saban's influence on academics and all the other areas of our athletic programs are equally impressive to me.'"
Saban said he and his coaching staff will continue to strive to make Alabama's football program the best in the nation, per the same update.
"We are honored by the commitment the University of Alabama has made to us with this new contract. It is certainly a mutual agreement in terms of our commitment to the University of Alabama. We will continue to work hard to keep our football program among the nation's elite.
"My passion has always been to develop young men to their full potential as student-athletes. We've had great success in that area in Alabama and I'm appreciate of all the the support and resources we receive from the administration in order to make that happen."
AL.com's Michael Casagrande reported on June 3 that Saban will earn $6.5 million in base pay together with a $400,000 completion bonus annually.
"Seven months after agreeing to contract extension terms, Nick Saban's new deal was approved Tuesday by the UA system Board of Trustees compensation committee.
"Saban, 62, has said he wanted to finish his career at Alabama and this contract will put him in that position.
"The motion passed unanimously.
"Here are a few details:
"-- Compensation: $6.5 million per year with a $400,000 completion bonus for $6.9 million a year before performance bonuses. He made $5.5 million in 2013.
"-- The length of the contract was extended from 2020 to Jan. 31, 2022.
"-- His life insurance coverage was increased from $5 million to $6 million.
"-- The Saban Scholarship received a $100,000 contribution.
"-- Should Saban get fired without cause, the liquidated damages he would receive could not exceed $23.3 million. There was no hard cap in previous contracts.
"-- There was no change in his potential bonus payments.
"There's a clause in there that could pay Saban more, however. Should his pay become less than the average of the three highest paid coaches in the nation or less than the pay of the five highest paid coaches, UA agrees to increase his pay to the higher of the two averages.
"Saban, however, was the highest paid coach in the nation last year before receiving the significant raise."
Alex Scarborough of ESPN adds details about the contracts of the other members of Saban's coaching staff.
"In addition to having the highest-paid coach in college football, Alabama also boasts one of the highest-paid coordinators in the game. Kirby Smart, Saban's longtime defensive coordinator, will earn more than $1.3 million through Feb. 28, 2017, after the compensation committee voted to extend his contract by one year.
"Lane Kiffin, who was hired as Alabama's offensive coordinator in January, was approved for a three-year contract that wil pay him $680,000 the first two years and then $714,000 the year after that.
"New defensive line coach Bo Davis was signed through February 2016 at $450,000 per year, and inside linebackers coach Kevin Steele was also signed through February 2016 at a salary of $700,000 per year."
Saban is entering his eighth year as head football coach of the Crimson Tide. During his tenure, Alabama has won three national titles and a total of 72 games over a six-season span, per RollTide.com.
As a testament to his success off the field, Saban saw 28 of his players graduate prior to the Sugar Bowl -- the highest number in the nation. What's more is 89 Crimson Tide players who already received their degrees saw action in bowl games in the last six seasons, RollTide.com points out.
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