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Bowden, Purnell finalize lucrative contract extensions
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CLEMSON Clemson University officially has locked up its two most prominent coaches through 2014.
University officials released finalized contract extensions for head football coach Tommy Bowden and men’s basketball head coach Oliver Purnell Wednesday following Freedom of Information Act requests from various state media outlets, including the Independent-Mail.
Bowden’s new contract will pay him at least $1.83 million per season guaranteed, with the potential to make nearly $2.6 million if he reaches various academic and on-field performance incentives contained in the deal.
Purnell’s new deal will pay him approximately $1 million per year, not including a retirement plan which will pay him an undisclosed amount per year.
Bowden made $1.2 million in his previous contract before a well-publicized flirtation with Arkansas last December. Purnell made $735,000 in guaranteed income last year.
Bowden’s base salary is $295,000, with a guaranteed $1.255 million in outside income. He also receives $250,000 annually for a retirement plan and $30,000 annually for an annuity investment of his choice.
Purnell’s base salary is $225,000, with a guaranteed $775,000 in outside income. He must pay a $500,000 buyout if he accepts a Division I head coaching position between April 29, 2012 and April 29, 2014, which is tied into a retirement plan in his extension.
Bowden’s new contract includes a much larger buyout in addition to incentives. Clemson must pay him $4 million if he is terminated with cause before Dec. 1, 2008, $3 million if it does so before Dec. 1, 2009, $2.5 million if it does so between Dec. 1, 2010 and Dec. 1, 2011 and $2 million for the rest of the contract’s life.
The same buyouts apply to Bowden if he leaves for another job. Bowden must receive approval from Clemson athletics director Terry Don Phillips before negotiating with another school.
He is also eligible for a yearly merit raise to be discussed with 30 days of the conclusion of Clemson’s season.
The contract also increases dramatically in value if Clemson enjoys academic and on-field success.
Bowden receives a $50,000 bonus if the Tigers’ graduation success rate (GSR) and academic progress rate (APR) are both equal or greater than the median combined ranking for ACC and SEC schools.
He will get a $10,000 bonus for each eight-win season, with that bonus increasing $10,000 with each win. If the academic goals are met, that becomes a $25,000 bonus, increasing to $45,000 for a nine-win season and going up $10,000 with each additional victory.
If Clemson reaches the ACC title game and meets academic goals, Bowden will receive $100,000, with an additional $100,000 for an ACC championship.
If Bowden guides the Tigers to a BCS national title with academic success, Clemson will pay him a $600,000 bonus.
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