Missouri Boosts Buyout Penalty in Haith Contract

5 years 5 months 3 weeks ago June 20, 2011 Jun 20, 2011 Monday, June 20 2011 Monday, June 20, 2011 7:03:00 PM CDT in Tiger Talk
Source: Associated Press
By: Associated Press
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COLUMBIA (AP) -- Missouri has made it much more expensive for its new men's basketball coach to leave before his contract is up.

The school that lost former head coach Mike Anderson to Arkansas two months ago has sharply increased the buyout penalty for Frank Haith, his successor.

The buyout starts at $1.2 million after one year and gradually decreases to $500,000 by year four. Anderson's contract capped the buyout penalty at $550,000, an amount equal to two years of his base salary.

Missouri released copies of Haith's contract Monday. He will earn $1.5 million annually and an extra $100,000 in yearly deferred compensation starting in 2013. He can earn another $825,000 in incentives.

 

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