This is technically a memorandum of understanding, meaning the official, finalized contract wont be available for a few more weeks. But the details of Chris Petersens 5-year deal with Washington were distributed to reporters today at his introductory press conference. More on that in a bit.
Probably goes without saying at this point, but Petersens contract makes him the highest-paid coach in school history, as well as the highest-paid public employee in the state of Washington.
Heres Petersens annual guaranteed compensation:
$3.2 million from Dec. 6, 2013 to Jan. 31, 2015
$3.4 million from Feb. 1, 2015 to Jan. 31, 2016
$3.6 million from Feb. 1, 2016 to Jan. 31, 2017
$3.8 million from Feb. 1, 2017 to Jan. 31, 2018
$4 million from Feb. 1, 2018 to Jan. 31 to 2019
And here are the incentives, which are cumulative unless otherwise noted:
$50,000 for a Pac-12 championship game appearace
$100,000 for a Pac-12 championship
$150,000 for an Alamo or Holiday Bowl appearance
$75,000 for any other non-College Football Playoff bowl appearance
$300,000 for a CFP bowl appearance
$400,000 for being selected as one of the four CFP participants
$450,000 for making it to the CFP championship game, OR
$500,000 for winning the CFP national championship
(In other words, if the Huskies win the Pac-12 and then win the national championship, Petersen would earn an additional $1.05 million $50k for making it to the Pac-12 title game, $100k for winning it, $400k for making the CFP and then another $500k for winning the national championship game.)
There are also academic incentives, which are not cumulative:
$50,000 if the team finishes with an Academic Progress Rate greater than or equal to 950
$75,000 for an APR score of 960 or greater
$125,000 for an APR score of 970 or greater
And some other goodies:
A number to be agreed upon of season tickets for all sports (football, mens and womens basketball, baseball and a Husky Gold Card)
Full standard benefits (obviously)
Moving expenses and temporary housing up to 90 days
Up to two vehicles for personal and professional use, at UWs discretion
UW will pay Petersens $750,000 buyout that he owes to Boise State, and will pay him up to $500,000 to offset any tax burden incurred by that payment to BSU.
This is an interesting provision: if Scott Woodward is no longer UWs athletic director, Petersens contract will be extended through Jan. 31, 2020, essentially tacking an extra football season onto it. That will only occur if Petersens contract has not already been extended past that date prior to Woodwards departure.
And Petersens buyout clause is as follows:
If he leaves UW in the first year of his deal, he will owe $3 million; hed owe $2.5 million in Year 2; $2.5 million in Year 3; and $1.5 million in Year 4.
If Petersen is terminated without cause, he will simply be owed 100 percent of the remaining guaranteed compensation under the terms of his contract.