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Larranaga's Contract

George Mason Basketball: Larranaga's Contract

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Thursday, August 28, 2008

Larranaga's Contract

The Post has an article detailing Larranaga's new contract, thank you Freedom of Information Act. The contract is pretty damn awesome for a mid-major coach and might be the standard for other schools that don't want to lose their guy to the bigger conferences.
"According to documents obtained through a Freedom of Information Act request, the university increased Larranaga's base salary to $525,000 from $375,000 as part of a three-year contract extension through the 2014-15 season."
And besides the 40% increase to his salary, the deal is full of bonuses and incentives:
"Besides the salary upgrade, Larranaga will continue to receive a $75,000 lump sum each year he remains at George Mason. He will also earn $10,000 per year if the Patriots win 19 regular season games and an additional $15,000 if they win 22.

Other bonuses include $52,500 for advancing to the NCAA tournament and $26,250 for each victory in the first two rounds. If the Patriots reach a region final, Larranaga would earn an additional $52,500. He would also receive $5,000 for being named CAA coach of the year; $10,000 for any national coach of the year honor; and bonuses based on percentages of his salary for players' academic performances."

I think most fans don't realize the magnitude of the deal, which solidifies the most important asset of any college basketball program. A head coach with job security is not something to overlook and does wonders for your recruiting game. The contract also promises more than just keeping the Big L in Fairfax:

"Under the new agreement, the university also pledged to spend up to $150,000 annually to increase the "profile and visibility" of the program by facilitating nonconference home games and participation in tournaments."

Yes, yes, yes oh god yes. Of course this is a pretty vague statement but I do feel it is something that Larranaga definitely pushed for when locking up this deal. I really want to see some decent names come to play us in Fairfax and we all want to see this program grow which why I am glad to see the university is making that a priority.

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2 Comments:

Blogger Taylor said...

I think I read in an alumni magazine that GMU got $600 million of free advertising during the final four. If that's true paying half a million is nothing and is more than deserved. Actually, he probably deserves more.

7:25 PM  
Blogger Matthew said...

Yeah, but we'll see how well he can get this team into CAA Championship territory and a NCAA bid again. They JUST may hook him up a little more.

8:09 PM  

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