UCF released the terms of new head coach Scott Frost's contract agreement yesterday at Frost's introductory press conference.
No doubt they did this following the flap over George O'Leary's contract earlier this year. Still - Bully for transparency!
The document passed out to the media was a Memorandum of Understanding - not an actual contract. Frost has 60 days from November 29th (the date on the MOU) to accept the terms of a full contract with all the legalese spelled out. This is standard operating procedure.
The ink is dry!@coach_frost officially signs his paperwork as he starts a historic day at UCF! #UCFrost #ChargeOn pic.twitter.com/9mDQtX94Yn— UCF Football (@UCF_Football) December 2, 2015
Below are the highlights:
Term: 5 years, plus an option for two more. It's UCF's choice to exercise that option, and they can do so after the first two years.
Salary: $1.7 million per year base salary, plus $250,000 per year worth of incentives.
Benefits: Full benefits, plus moving expenses, a car, and club membership.
Staff Salary Pool: $2.3 million total for assistants and staff.
- If Frost gets fired without cause (for example, if UCF completely tanks under his leadership), he is owed half his base salary ($850,000) per year for the remaining term of the contract.
- If Frost accepts another college or pro job, UCF is owed half his yearly salary - $850,000.
Note: According to the MOU, the buyout for another job is exactly $850,000, and not $850,000 per year left on his deal.
If it's just $850,000, then that's a pretty shallow buyout. But I suppose that shouldn't be too much of a surprise. Should Frost succeed at UCF, he will again be a hot commodity (especially at his alma mater). So Frost has tremendous incentive to win, win big, and win quickly.
I get that UCF fans may not be all that happy about those buyout terms, but this is the reality of the business UCF is in. George O'Leary's ten years on the job will be the exception, not the rule.
"Fans better buckle their seatbelt, because we're gonna hit the accelerator around here." - @coach_frost #UCF— Black & Gold Banneret (@UCF_Banneret) December 2, 2015