Tressel Receives New Six-Year Contract – Ohio State Buckeyes
6/16/2003 12:00:00 AM | Football
June 16, 2003
COLUMBUS, Ohio – Ohio State football coach Jim Tressel, last year’s national coach of the year after leading the Buckeyes to a perfect 14-0 season and the national championship, has been rewarded with a new six-year contract that runs through the 2008 season.
The agreement, which may be extended for three years if agreed upon by March 1, 2006, replaces Tressel’s existing contract, which would have expired following the 2005 season.
“I am absolutely elated with this agreement,” said Andy Geiger, Ohio State’s director of athletics. “Certainly, it is an appropriate reward for what Coach Tressel has already accomplished on and off the field. Jim is an outstanding coach and teacher, as well as a tremendous person. His service to the University and the state of Ohio speaks volumes as to the type of person he is and his core values. Ohio State football could not be in better hands.”
Ohio State University President Karen A. Holbrook echoed Geiger’s sentiments.
“Coach Tressel is doing a truly outstanding job in his work with the players and staff, and also as a university ambassador,” said Holbrook. “He is committed to excellence and values that reflect the highest standards and integrity. Jim is an asset to Ohio State and I am pleased that we have reached an agreement that will keep him here for the foreseeable future.”
Tressel has compiled an overall record of 21-5 in his first two years with the Buckeyes. He is 13-3 in Big Ten play and his teams have won nine-consecutive conference games heading into the 2003 campaign. The Buckeyes shared the Big Ten title last year at 8-0 on the way to recording the league’s first consensus national championship since 1968. The 14 victories last year are the most ever by a Division I-A school.
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“I know, too, that any success we have had here is due in large part to the hard work and support of the people around me.” Jim Tressel |
Following the 2002 season, Tressel was named national coach of the year by the Football Writers of America and the American Football Coaches Association. He also received the Bobby Dodd and the Paul “Bear” Bryant National Coach of the Year awards.
Tressel will receive $1,309,750 in total compensation in the first year of the new contract, including a base salary of $285,750 and a signing bonus of $200,000. The remaining monies will come from radio/television and public relations ($420,000) and from NIKE ($335,000).
Terms of the contract will escalate annually, reaching $1,871,576 in year six, including a base figure of $405,300. There is also a deferred compensation package that starts in year two of the agreement. If Tressel stays at Ohio State through the 2008 season, he will receive $1.5 million in deferred compensation. He also could earn approximately $100,000 annually in academic bonuses.
At his request, Tressel’s only athletic bonus is tied to Ohio State’s participation in the BCS National Championship Game. Should the Buckeyes play in that game, he would receive a bonus of $200,000.
“I want to thank President Holbrook, Andy Geiger and the board of trustees for their support and belief in me,” said Tressel. “Ellen and I look forward to spending at least the next six years here and working hard to accomplish the goals that we have set for ourselves and our student-athletes.
“I know, too, that any success we have had here is due in large part to the hard work and support of the people around me, particularly my coaching staff, our players, the entire administration and support staff and, of course, every single Ohio State Buckeye fan. They have my sincere thanks. I am truly humbled to be a small part of The Ohio State University, because I believe this is one of the great institutions of higher learning in this country. I look forward to the challenges that lie ahead and to giving our fans, the city of Columbus and the state of Ohio a football team that will represent itself with class and dignity both on and off the field.”
