K-State's Snyder signs 5-year, $14.75 million deal
Published on -1/31/2013, 12:11 PM
MANHATTAN (AP) -- Kansas State coach Bill Snyder signed a new five-year contract Thursday that includes an increase in base compensation to $14.75 million over the life of the contract.
The new deal, which rolls over annually, replaces one signed in 2009 that did not specify Snyder's compensation past the fifth year. Snyder will now make $2.75 million for the 2013 season with annual increases of $100,000 through the 2017 season.
"My entire family and I have been so very grateful for the genuine, caring and loyal support K-Staters have provided our coaches, staff, families and young people on a yearly basis," Snyder said in a statement. "As I have stated so often we came to Kansas State because of the people, stayed because of the people and returned because of the people, and that remains unchanged."
Snyder led the Wildcats to an 11-2 finish, their second Big 12 championship and a berth in the Fiesta Bowl this season. Picked to finish sixth in the conference, they were ranked No. 1 in the BCS standings before a late-season loss to Baylor.
The 73-year-old Snyder was voted AP's Big 12 coach of the year.
"We have continued to make daily improvement as a football program," he said, "and I am grateful for the opportunity to continue and will do so as long as I feel that I am having a positive impact on our university, community and football program and the young men that are involved."
Snyder's contract includes several bonus provisions, including $50,000 for a third-place finish in the Big 12, $75,000 for a second-place finish or $100,000 for winning the conference title.
He will also receive $50,000 for each bowl appearance, $100,000 if it's a "BCS bowl," $175,000 for making the national semifinals when the playoff structure begins in 2014, $250,000 for playing in the championship game, or $350,000 for winning the national title.
Snyder is also eligible for a $30,000 bonus for winning one of three coach of the year awards, $50,000 for a top-20 finish in the AP or BCS standings, or $100,000 for finishing in the top 10.
Athletic director John Currie told The Associated Press that he wanted to reward Snyder for the job he's done since returning from a brief retirement four years ago, which includes three straight bowl berths and a 21-5 record over the past two seasons.
But Currie also said that he wanted to reaffirm Kansas State's commitment to Snyder, who will be 78 by the time his new contract is fulfilled. Currie acknowledged that questions often arise about how long Snyder will be on the sideline, including from potential recruits.
"This is really recognition of his leadership," Currie said, "and it also sends a signal: How long he's going to coach, whenever he's going to retire, all that stuff, however long it is we're happy to have him here."
Even when Snyder's coaching career is finished, he'll still have a place at Kansas State. His contract calls for him to become a special assistant to the AD at an annual salary of $250,000.
"The nature of his re-engagement four years ago led to some of those questions," Currie said. "I never had those questions (about how long he'll coach). My interaction with him is always inspiring, because he's always so diligent, working hard and thinking only about those matters at hand."
Beyond the compensation and bonuses, Snyder's contract includes similar benefits to his previous deal: group insurance and retirement plans; the use of a courtesy vehicle and a vehicle stipend; the use of a suite in the stadium, which is undergoing $75 million in renovations; membership at a country club; men's and women's basketball tickets, including Big 12 and NCAA tournament tickets; 10 hours of private plane use annually; $50,000 for business-related expenses; other travel benefits, and the use of the school's recreation complex and associated facilities.
Snyder has a career record of 170-85-1 in 21 seasons at Kansas State. His win total places him seventh among active coaches in the Football Bowl Subdivision and are more than triple the next-most successful coach in school history.
"Bill Snyder is one of college football's most respected legends and a complete ambassador for K-State and Manhattan," Kansas State president Kirk Schulz said in a statement. "We are so fortunate to have one of the very best coaches in college football history who also fully embraces and understands the value and mission of our university."