Last night championship win earned Rick Pitino a $2.7 million dollar bonus, pushing his earnings to over $6 million this year. Wow! I'd say he's worth every penny!
Quote from: Sunbelt15 on April 09, 2013, 05:48:28 AM
Last night championship win earned Rick Pitino a $2.7 million dollar bonus, pushing his earnings to over $6 million this year. Wow! I'd say he's worth every penny!
The win "only" got him another $150k.
The $2.7 million you're referring to was a deferred "stay bonus" first created in his deal back in 2010. Employment through March 31, 2013 was one way he could become entitled to the monies. His team could have lost their first game of the tournament and he still would have received it.
(also, the $6 million includes this figure... which - if they structured the plan appropriately - will come into income for US fed tax purposes in 2013 - but, the $2.7 million was earned over the course of three years.)