Ohio State Athletic Director inks $1.5M deal
By Jeff Adcox
Ohio State University Interim President Joseph Alutto recently announced the promotion and contract extension of Eugene Smith, naming him vice president in addition to his continuing duties as director of athletics, pending approval by the Board of Trustees later this week.
The contract extends his term until 2020, and also formalizes his added responsibilities as vice president. Smith’s base salary, effective July 1, 2013, is $940,484 per year. His compensation is paid entirely through athletics department revenues, using no tuition or tax dollars.
“Gene Smith is one of this country’s most accomplished collegiate athletics directors, with an exemplary record of national leadership and service,” said Alutto. “Thanks to his dedication to student success, graduation success rates of Ohio State’s student-athletes have risen by 11 percentage points, to 89 percent. His vision and commitment to excellence have made Ohio State’s Department of Athletics one of the strongest in the nation.”
The Associated Press is also reporting that the contract could reach $1.5M depending on bonuses.
"If the Buckeyes football team plays in a major bowl game or the men’s or women’s basketball teams make it to the Final Four, Smith will receive four times his weekly base salary, or more than $72,000. Should the football team or men’s basketball team go on to win the national championship, Smith would receive an additional $36,000."
Smith’s incentives are not just limited to football and basketball.
"The contract specifies a $36,000 bonus for any NCAA championship won by men’s teams in baseball, ice hockey, lacrosse, soccer and volleyball along with women’s teams in field hockey, ice hockey, lacrosse, rowing, soccer, softball and volleyball."