Kansas State finalizes Snyder contract

Kansas State athletic director John Currie announced tonight the details of Bill Snyder’s new multi-year contract.

The contract is retroactive to February 1 and includes annual compensation, which will total nearly $10 million over a five-year agreement.

The new deal was approved by the K-State Athletics board of directors earlier today and signed today by Snyder.

“Coach Snyder is one of the true legends of college football,” Currie said in a statement. “He is an outstanding ambassador for this University, community and state. I have said numerous times that my first impression of Kansas State was the toughness and determination of a football team led by Coach Snyder at the 2001 Cotton Bowl, and we are excited about the direction of our football program under his leadership.”

Snyder will be paid a base salary plus supplemental licensing payments totaling $1.85 million in the 2009-10 contract year, $1.875 million in 2010-11, $1.925 million in 2011-12, $1.95 million in 2012-13 and $1.975 million in 2013-14.

“We are excited to have Coach Snyder back on the sidelines and leading our football program,” K-State president Kirk Schulz said in a statement. “No other coach in America has served his institution with greater dedication and loyalty, and we are confident about the future of K-State football.”

On his twitter account, Schulz added: “We just finalized Coach Bill Snyder’s contract for the next 5 years! This is a terrific day for K-State football. Geaux Wildcats!”

Said Snyder: “The reason we came to Kansas State was because of the people, we have stayed here all of these years because of the people and our reason for returning was because of the people. I am so very appreciative of the commitment and leadership of President Schulz and John Currie and the vision they share with me for the direction of our football program.”

In addition to his base salary, Snyder will receive the use of a courtesy automobile and a vehicle stipend of $10,000 annually; access to a suite at Bill Snyder Family Stadium; a country club membership; a family membership at the KSU Rec Complex; eight men’s season basketball tickets and four women’s season basketball tickets, and four tickets to the Big 12 men’s and women’s basketball tournaments and, as available, four tickets to NCAA men’s and women’s basketball tournaments for games in which K-State participates.

The contract calls for performance incentives that could reward Snyder up to an additional $455,000, including $75,000 for winning the Big 12 championship game and $250,000 for winning the BCS National Championship.

Upon the conclusion of Snyder’s employment as coach, he will continue to be paid $150,000 annually as a special assistant to the athletic director.

CONTRACT DETAILS

Total compensation

2009    $1.85 million

2010    $1.875 million

2011    $1.925 million

2012    $1.95 million

2013    $1.975 million

Bonuses

Big 12 North championship (and plays in Big 12 title game): $50,000

Wins Big 12 championship game: Additional $25,000

Big 12 North championship (tied and does not play in Big 12 title game): $25,000

Appearance in Independence Bowl, Texas Bowl or at-large bowl: $20,000

Appearance in Cotton, Holiday, Gator, Alamo, Sun or Insight bowls: $35,000

Appearance in non-championship BCS bowl: $75,000

Loss in BCS national championship game: $150,000

Win in BCS national championship game: $250,000

Selected Walter Camp, Eddie Robinson or Bear Bryant national coach of the year: $30,000

K-State finishes in top 20 of AP or BCS final rankings: $50,000

K-State finishes in top 10 of AP or BCS final rankings: Additional $50,000