According to a term sheet to USA Today Sports from LSU Tuesday night, Brian Kelly, LSU’s new football coach, is set to receive over $100 million in basic compensation over 10 years.
The new deal, is subject to a satisfactory background check as well as approval by the LSU Board of Supervisors, and will make Kelly the first coach at a public school with a nine-figure contract.
His pay is categorized as $400,000 base salary annually, with supplemental compensation that starts at an annual rate of $8.6 million, with a $500,000 “longevity” payment that he will receive if he is on the job each July 1. The start date is no later than November 28 and the first-year ends on December 31, 2023.
That makes Kelly’s total $9.5 for 2022 and will tie him with Michigan State’s Mel Tucker at the second-highest paid public-school coach behind Alabama’s Nick Saban, who is set to make $9.9 million. Michigan State disclosed the terms of Tucker’s 10-year deal, a $95 million deal on Monday.
Kelly’s supplemental pay has a series of scheduled increases, to $8.8 million in 2023, $9 million in 2025, $9.2 million in 2027, $9.4 million in 2029 and $9.6 million in 2031. But his contract also includes provisions that will allow him to increase those payments.
Provisions includes a $250,000 yearly increase in supplemental pay for each SEC championship game won, an increase of $500,000 yearly supplemental pay for every national championship won. If all of this were to happen in Kelly’s first season, the value of the deal would increase by a total of $6.75 million.
Kelly’s total pay, base salary and supplemental pay, starts at $95 million and is 90% guaranteed if Kelly is fired without cause. If LSU wins a national championship, the remaining base salary and supplemental pay will become 100% guaranteed.
If Kelly leaves LSU without cause before December 31, 2022, he would owe the school $4 million. if he leaves in 2023, he would owe $3 million. After that, he would owe $3 million.