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Sunday, May 26, 2024

Texas Head Coach Bob Bowman’s Contract Price Greater than $2.75 Million over 6.5 Years


The College of Texas has prolonged a contract value a minimum of $2.75 million over the following six and a half years to new Director of Swimming & Diving and Males’s Head Coach Bob Bowman. The contract runs from April 1, 2024, by means of August 31, 2030, and features a assured annual wage of $400,000 for the primary 12 months and a half, rising to $450,000 within the 12 months ended August 31, 2030.

Bowman can be entitled to an “Distinctive Efficiency Incentive,” to be decided by the Athletic Director “ought to the Program attain sure ranges of feat.” Apparently, whereas Bowman won’t be teaching the Texas ladies –Carol Capitani is the top coach of the ladies’s program– he has a monetary incentive for them to succeed. His “Distinctive Efficiency” bonus is tied to the efficiency of the lads’s group (as much as a most of 37% of his wage) in addition to the ladies’s group (as much as 30% of his wage).

Annual Compensation

Interval Wage Most Bonus Potential Potential Earnings
April 1, 2024 by means of August 31, 2024 $200,000 N/A $200,000
September 1, 2024 by means of August 31, 2025 $400,000 $266,667 $666,667
September 1, 2025 by means of August 31, 2026 $410,000 $273,333 $683,333
September 1, 2026 by means of August 31, 2027 $420,000 $280,000 $700,000
September 1, 2027 by means of August 31, 2028 $430,000 $286,667 $716,667
September 1, 2028 by means of August 31, 2029 $440,000 $293,333 $733,333
September 1, 2029 by means of August 31, 2030 $450,000 $300,000 $750,000
  $2,750,000 $1,700,000 $4,450,000

The settlement comes with different fringe advantages, together with the buyout of his earlier contract, a automobile, a $29,000 transferring allowance, a $3000 Nike Elite Allowance, spousal journey, tickets to College of Texas athletic occasions, and a share of the online revenue generated from summer time swim camps.

The contract stipulates that Bowman will report back to the Athletics Director, “who will decide Head Coach’s duties and tasks,” and that each events will “meet and formally talk about all points of the operation of the Program inside 45 days following the conclusion of every season.”

Bowman is contractually in the beginning an educator. He will likely be in command of techniques and coaching methods; Title IX compliance; recruiting; scheduling; hiring and managing his workers; and alumni relations. He should agree to look in tv and radio broadcasts, camps and clinics, in addition to promotional actions associated to “varied producers and distributors to supply athletic tools, provides, and equipment” with whom the college enters into settlement.

Bowman is changing Eddie Reese, whose base annual wage since September 1, 2021 has been $279,425. Within the 2020-2021 fiscal 12 months, he earned $246,561 (Reese was presupposed to be retired earlier than then); he additionally acquired a one-time bonus of $32,864 on October 1, 2021, seven months after the Longhorns gained the 2021 NCAA Division I Males’s Swimming and Diving Championships.

Capitani earned $250,000 this season and was granted a contract extension by means of August 31, 2028.

Bowman will flip 65 in 2030, the 12 months when the present contract is about to run out.

 



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