Michigan gives Rodriguez hefty contract
editor1 |Jan 20,2008
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DETROIT (Ticker) -- The University of Michigan apparently has
made new coach Rich Rodriguez a very rich man.
The Detroit Free Press reported on Sunday that Michigan and
Rodriguez agreed to a six-year contract that will pay him $2.5
million annually.
The contract, which has not been signed or finalized, reportedly
has a $4 million dollar buyout - the same as his contract at
his former school, West Virginia.
According to the report, the contract carries a base salary of
$300,000, while the rest will come from outside endorsements as
well as television and radio deals. The buyout reduces by
$500,000 each year.
Rodriguez, 44, was named as the successor to Lloyd Carr on
December 16. Terms of his contract were not disclosed at that
time.
The third-winningest coach in school history, Carr retired after
the Wolverines' 41-35 win over Florida in the Capital One Bowl
on New Year's Day. Rodriguez was named as Carr's replacement
after Louisiana State coach and Michigan alum Les Miles turned
down the job.
A West Virginia graduate who signed a contract extension to stay
at his alma mater last December, Rodriguez compiled a 59-26
record in Morgantown. He reportedly made $1.8 million this
season.
West Virginia is suing Rodriguez for breaking the terms of his
contract. He claims the clause is invalid because the school
failed to fulfill certain promises.
In addition, reports surfaced that Rodriguez destroyed files on
every player on West Virginia's roster following the
Mountaineers' 48-28 victory over Oklahoma in the Fiesta Bowl on
January 2.
Rodriguez denied such actions, saying they were personal files
and that there is a campaign to smear him.
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