As a teacher and coach for the past 28 years I have always encouraged young people to set goals, work hard, persevere, and get the best possible education they could as an avenue to success and happiness. But just last week I realized that maybe I have been giving kids the wrong advice all along. So I've changed my mind. My advice to all youngsters now is to do whatever you can to become a college basketball coach. Why the change in philosophy, you ask? Just look at the case of John Calipari.
Calipari has been the head basketball coach at the University of Memphis for the past nine seasons, bringing the program to national prominence and taking the Tigers to the N.C.A.A. championship game in 2008. There is no denying that Calipari is a very good basketball coach. Calipari spent eight seasons as the head coach at the University of Massachusetts, where his team reached the Final Four in 1996. Calipari has a career college coaching record of 445-140. Last week, Calipari signed on as the next head basketball coach at the University of Kentucky, one of the premier basketball programs in N.C.A.A. history. Rich in tradition, Kentucky has won seven N.C.A.A. national championships, has had dozens of players make it to the N.B.A. and is the home of legendary former college basketball coach, Adolph Rupp.
So what does John Vincent Calipari get for coaching the University of Kentucky Wildcats for the next eight years? The contract Calipari signed with Kentucky will pay him a base salary of $400,000 per season. In these tough economic times there are many of us that would be thrilled to be making $400K a year. But the base salary is just that. The University of Kentucky opened up the bank vault to get Calipari. In addition to his base salary, Calipari's contract calls for him to be paid for participation in "University Agreements," which means that Calipari will get paid for partaking in the television, sneaker, and beverage deals that the University of Kentucky has signed on to. How much you ask? In his first season, Calipari will earn $3.3 million. Seasons two through five will bring Calipari $3.4 million per. And in seasons six through eight, Calipari will have to live on a paltry $2.85 million per year in endorsement monies. (I wonder if the United States federal government has a "bail-out" for basketball coaches trying get by on less than $4 million a year). But do not worry about John Calipari. In total, the eight year deal that Calipari signed to coach basketball at the University of Kentucky is worth $31.65 million.
There's more. Calipari's contract calls for Kentucky to provide him two late model quality cars of his choosing. Of course, in case Calipari can't get a Mobil credit card with the roughly $4 million a year he will earn, Kentucky will reimburse him for mileage.
Calipari will also get 20 prime lower level seats to every Kentucky home and away basketball game, as well as any tournament games Kentucky plays in. Kentucky will also provide Calipari with eight tickets to each home UK football game. (Maybe Calipari can't find 20 friends who want to watch football).
If Calipari gets bored with his job and needs some yearly incentive, Kentucky has provided the following: if Calipari's Wildcats win the Southeastern Conference regular season title he gets $50,000, the Southeastern Conference tournament title he gets $50,000, make the N.C.A.A. tournament he gets $100,000, the Final Four earns him $175,000, and a National Championship gets him an additional $375,000.
As a basketball coach, part of Calipari's job includes motivating his student-athletes to do well in school. If the Wildcat players perform in the classroom, Calipari gets an additional $50,000. If he maintains a 75 percent graduation rate with his players, Calipari gets still another $50,000. (Shouldn't $4 million a year for a basketball coach get you a 100 percent graduation rate?).
With all the stress of trying to win basketball games and have his players get an education, Calipari's contract entitles him to one month vacation. If time off alone cannot relieve his stress, Calipari will receive membership to a local golf country club, courtesy of the University of Kentucky. And if the University of Kentucky gets tired of John Calipari, they can fire him at any time in the next eight years and all they will have to pay him is a measly $3 million per for each year left on the contract.
However, if Mr. Calipari feels that he can somehow make it through his eight years at Kentucky, a "retention clause" will pay him an additional $750,000 in March of 2014, $1 million in 2015, and $1.25 million in 2016. (Just try asking your boss for a retention clause at your job).
And don't worry about Coach Calipari having to scramble for pocket change for morning coffee. The University of Kentucky will provide Coach C with an expense account for all "reasonable and necessary expenses."
It seems as though Calipari's people and Kentucky's people have worked out just about every possible detail. Coach Calipari could have a long and prosperous stay at Kentucky. So kid, what are you doing in the library studying for that American History test? Put down that textbook and pick up that playbook.
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