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If you remember roughly one month ago Butch Jones agreed to a contract extension with the Cincinnati Bearcats. The contract couldn't be signed until it was approved by the University's board of trustees at the next meeting on January 24th. Well what do you know, today is the 24th of January. As I am writing this new has broken that the extension has been approved by the board and just needs signatures to go into effect.
Some of the details of Jones's contract have come out today as well. The relevant facts are this. Butch will make 1.575 million in 2012 with yearly raises that will result in base pay of of 2.05 million in the final year of the contract in 2017. Obviously there are incentives and bonuses built into the contract, but those are not public at the moment. Also no word on the value of the buy out, at least not yet. But Jones does have retention bonuses of $100,000 next year, none in 2013 or 2014 but that retention bonus increases to $300,000 for 2015 through 2017.
Lastly the assistant pool for the 9 assistant coaches and Dave Lawson starts at 1.85 million and will increase in lock step with any increase in general salary among the University staff. This is a big increase over the 1.46 pool the staff had in 2011.