Iowa State Releases Details of Rhoads’ Contract
February 29th, 2012 by Jim Field
AMES, Iowa (AP) — Iowa State has released the details of its 10-year, $20 million contract extension with coach Paul Rhoads.
The deal, which includes a number of incentives for Rhoads, was released Wednesday to The Associated Press.
Rhoads will earn a base salary of $1.6 million, which increases by $100,000 each year starting in 2013. Rhoads is also due one-time payments of $300,000 in 2015 and 2018.
Rhoads will earn $200,000 for each year the Cyclones win seven or more regular-season games, $100,000 for reaching a bowl game and if the Cyclones finish in the Top 25.
Rhoads is due $250,000 if Iowa State ties or wins the Big 12’s regular season title.
Rhoads would owe Iowa State $1 million if he leaves for another Division I or NFL head coaching job.