$500,000 bonus?

[RC66]

Politi (incidentally, the jerk who goes out of his way to attack JH) mentioned in a recent column that CVS has a bonus clause of $500,000 (one time) for any appearance in the NCAA Sweet 16 during the term of her current contract.

I didn't know about that. I guess he knows what he's talking about.

If he's right, that means only two more wins this year for $500,000.

Why, that should be a cinch!



edited to fix typo
This post was edited on 3/11 9:27 AM by RC66

 

[BeKnighted]

I don't know the details, but I do recall that the contract was set up so that if CVS achieved success comparable to the late 00s, she would be compensated accordingly, so this wouldn't surprise me.

 

[dmd78]

An article from last May states: "The Hall of Fame coach signed a four-year contract extension on
Wednesday the school announced. She will earn $700,000 in salary and
guaranteed money and can reach up to $1 million a year with incentives."

Perhaps there's an extra "0" in that Sweet 16 bonus?



Vivian Stringer agrees to 4-year deal

 

[knight82]

It would really be interesting if Politi was a beat reporter for a program like Syracuse, where cheating and NCAA violations run rampant. Here, he just picks on every little bit of gossip he can. He would have a field day at a place like that!

 

[MADHAT1]

Question:
would any RU WBB fan object to CVS receiving a one time ( no matter how many times they made it) $500k bonus , if RU made the sweet 16?
Would Julie be considered wise if she gave a four year extension to Vivian having Stringer accept far less than she was making
and only guaranteeing two of those years.
Even if that $500,000 bonus was in, the deal between RU and Vivian Stringer is Rutgers friendly, while showing respect to a HOF HC like CVS is.

 

[RU Husky]

Smart move, Julie. This bonus would be well deserved.

 

[Local Shill]

Dunleavy and Sargeant both reported it within the last few weeks after getting the info from the school. Google it. It's true.
Posted from Rivals Mobile

 

[RUinsane]

Originally posted by Local Shill:
Dunleavy and Sargeant both reported it within the last few weeks after getting the info from the school. Google it. It's true.
Posted from the link to the actual contract

 

[MADHAT1]

I knew about one time bonus before this thread was started and the reason why I posted what I did earlier in this thread

So don't forget that bonus is for one time, even if RU makes the Sweet 16 all 4 years of contract..
Also CVS took a cut in pay of $300,000 a year for the length of contract and only 2 of those 4 years are guaranteed.

Now that Vivian Stringer has RU back Dancing, people are looking for reasons to complain and this bonus isn't a valid complaint, because of the way Stringer's contract is set up.
Let's hope Vivian earns that bonus this year and gives us 3 free sweet 16 appearances and earns every other bonus
during the life of that contract.
That's my opinion, others can complain or feel RU & C.Vivian Stringer negotiated a contract that was fair to all parties.

 

[RUinsane]

Originally posted by MADHAT1:
I knew about one time bonus before this thread was started and the reason why I posted what I did earlier in this thread

So don't forget that bonus is for one time, even if RU makes the Sweet 16 all 4 years of contract..
Also CVS took a cut in pay of $300,000 a year for the length of contract and only 2 of those 4 years are guaranteed.

Now that Vivian Stringer has RU back Dancing, people are looking for reasons to complain and this bonus isn't a valid complaint, because of the way Stringer's contract is set up.
Let's hope Vivian earns that bonus this year and gives us 3 free sweet 16 appearances and earns every other bonus
during the life of that contract.
That's my opinion, others can complain or feel RU & C.Vivian Stringer negotiated a contract that was fair to all parties.

If you read the contract, the 500k doesn't get paid until 2018. And then it is only 10K a year over 5 years (2018 - 2022). This coincides with the end of the current contract. So IMO it's little bit of a parachute for her inthe case she retires at then end of this run. She will still receive $50k for every sweet 16 she makes. SO if she goes to three sweet 16's she earns 50k each fiscal year she achieves it, in addition she secures the 500k future payout

 

[RUtrumpet92]

I have no issues with the bonus. She took a cut in the base pay in this contract to make it more incentive-laden. That is not uncommon in sports.

Besides, if she can get us to the Sweet 16 this weekend with that draw, she'll have earned the bonus!

(Please beat SHU!)