On the heels of his third career AP National Coach of the Year honor, Virginia basketball coach Tony Bennett has earned another financial bonus after an already lucrative 2017-18 season.
Bennett will receive $100,000, as laid out in his contract, which STL obtained through a public records request. It’s the fifth and final performance-based bonus he will receive for this season in addition to his substantial salary. But what does it all add up to?
First, Bennett’s base salary (paid by the university) was $441,000. He also received just over $1.87 million what’s called “supplemental compensation” (paid for by sponsors and donors) for a total salary of $2.315 million. His litany of bonuses went as follows:
- $50,000 for being named the ACC coach of the year
- $100,000 for winning the ACC tournament
- $50,000 for reaching the NCAA tournament
- $75,000 for finishing in the top 10 of the national poll
- $100,000 for being named national coach of the year
The bonuses total $375,000 for a grand total of $2.69 million. That comes before things like two vehicle allowances ($18,000 a year), season tickets to football and basketball, and reimbursement for his membership in a country club. Not bad, huh?
Had Virginia reached the Sweet 16, Bennett would have made $100,000 for the postseason category, instead of just $50K. The Elite Eight and the Final Four paid out $250,000, while winning the whole darn thing would have paid him $400,000.
For next year, Bennett is slated to have a base salary of $463,000 with supplemental compensation of nearly $1.97 million - before bonuses, $2.43 million in total. Also, he’s set to receive a longevity bonus of $1 million if he’s still at UVA on March 15 of next year. His deal currently runs though the 2022-23 season, and he’ll receive his third and final automatic extension through 2023-24 on May 1.
By comparison, UVA football coach Bronco Mendenhall will make $3.55 million this season, a slight raise from his $3.4 million salary (plus a $75,000 bowl game bonus) a year ago. His $500,000 base salary will stay the same over the life of his current contract, and he receives a $150,000 increase in supplemental income every year on December 4. After his two automatic extensions have already kicked in, the contract runs through the 2022 season.