Washington Extends Neuheisel's Contract To 2008

Sept. 3, 2002

Washington athletic director Barbara Hedges announced today that Huskyfootball coach Rick Neuheisel's contract has been amended to include anextension to Jan. 1, 2008. At that time, additional incentives could extendthe fourth-year Husky coach's contract for an additional five years to 2013.

Neuheisel is currently in the fourth year of a five-year contract.

Neuheisel was named Washington's head football coach on Jan. 9, 1999. InAugust of that year he signed his initial five-year contract that includedtotal possible compensation of $997,000. Under the terms of that agreement,the contract could have been extended by two additional years by mutualagreement of both Neuheisel and the University.

Under his original contract, Neuheisel's annual base salary was $225,000.His total University compensation was $812,000. His outside compensation was$85,000 and possible performance incentives totaled $100,000.

In September of 2001 Hedges announced modifications of Neuheisel's originalcontract to include an increase in his base salary and increased academicand bowl incentives. His total university compensation was $1,212,000,including a base salary of $425,000. Additional incentives for possibleacademic performance and bowl game appearances totaled $250,000.

In addition to extending the length of his contract to 2008, Hedgesannounced several additional compensation elements to the amended contract:

  • University, using athletic department resources, to loan Rick Neuheisel$1.5 million for the six-year period of the amended contract
  • Rick Neuheisel to pay semi-annual interest payments to University, at arate of five percent per annum
  • If Rick Neuheisel leaves the University prior to January 1, 2008, theentire loan amount of $1.5 million will be repaid.
  • If Rick Neuheisel remains as the head football coach as of January 1,2008, the full amount of the loan will be forgiven.
  • If, at the end of this agreement in 2008, Rick Neuheisel agrees to anotherfive-year extension, Neuheisel will receive an additional $1 million bonus.I
  • f he should leave his position as head football coach prior to the end ofthis additional five-year period, the amount of the bonus will be due andpayable to the University according to the following schedule:
  • If Neuheisel stays less than one year, the full amount will be repaid.
  • If Neuheisel stays less than two years but more than one year, $800,000 willbe repaid.
  • If Neuheisel stays less than three years but more than two years, $600,000will be repaid.
  • If Neuheisel stays less than four years but more than three years, $400,000will be repaid.
  • If Neuheisel stays less than five years but more than four years, $200,000will be repaid.
  • Amount of liquidated damages in the event of a breach by Neuheisel areincreased from $100,000 to $600,000
  • Neuheisel will partner with the Director of Athletics to raise a minimumof $500,000 per year for the athletics department

    'I have been working with Coach Neuheisel since last fall to extend thenumber of years on his contract,' Hedges said. 'Rick wants to remain at theUniversity of Washington for a long time and we feel these amendments willhelp to make that a reality. Without changing the salary compensation thatwe amended in September of 2001, I wanted to add some security to ouragreement. I feel these changes give the longevity to the contract that weboth desire.'

    'At the risk of repeating myself, I have said all along my desire is to bethe head football coach at Washington,' Neuheisel said. 'I appreciate all ofthe efforts that Barbara Hedges has made to make the coaching position atWashington one of the best in the nation. I love being a Husky and I lookforward to working at Washington for many years to come.'

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