How much will the Hokies’ coaching staff cost this year? About the same as last year
I have not yet been able to get in contact with Tom Gabbard, Associate Director of Athletics for Internal Affairs, to talk about the new video board the Hokies will be adding in Lane Stadium. Hopefully I can add some insight on that later today.
In the meantime, here’s some salary information on the new coaches. All told, the cost of Virginia Tech’s new, existing and departing staff will be close to $5 million in 2013.
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The actual figure — if my math is correct — is $4,964,690, which includes Frank Beamer‘s new contact (with salary, retention incentive and Nike and IMG compensation), salaries for all nine on-field assistant coaches and money owed to two coaches who have departed. (UPDATE: that figure is probably a little lower now that Curt Newsome has formally been hired by James Madison.)
That is remarkably close to last year’s figures. Virginia Tech’s coaching staff was due about $4.93 million prior to bonuses last season.
The assistants still on the staff got 7 percent raises from last year based on the bowl appearance (the language for raises is written into Beamer’s contract). Here’s what their 2013 salaries will look like:
- Bud Foster — $504,785
- Bryan Stinespring — $300,000
- Charley Wiles -- $261,673
- Torrian Gray — $216,704
- Shane Beamer — $216,704
- Cornell Brown — $216,704
- Scot Loeffler — $150,000
- Jeff Grimes — $150,000 (becomes $265,000 on July 1)
- Aaron Moorehead — $150,000
Virginia Tech still owes Mike O’Cain and Newsome their salaries through June 30, 2013, which is how long their university letter of appointments run. O’Cain made $252,776 last year and Newsome $212,653, although since they were on staff to start the new year, they should be eligible for the 7 percent raise based on the bowl appearance.
Prorated for half the year, the Hokies will owe them about $249,004, although now that Newsome has been officially hired by James Madison, that should lower Virginia Tech’s financial obligation to him over the next few months. Kevin Sherman accepted a job at Purdue at a higher pay rate. Due to language in his Virginia Tech letter of appointment, the Hokies do not owe him additional money.
Jim Cavanaugh and Billy Hite still have administrative jobs that are paid at a rate of $150,000. Their letters of appointment run through the end of June.
The only assistant coach with a contract now is Foster. Stinespring did have one — and would have been eligible for a buyout for around $1 million for being removed as offensive coordinator — but now is on a letter of appointment for $300,000 a year through June 30, 2016. The three new coaches, even Loeffler, are operating under letters of appointment.
As was mentioned when the new coaches were hired, the $150,000 salary listed for Loeffler and Grimes is temporary. Virginia Tech designed the salaries to be less for the duration of their contracts at Auburn, which owes them the difference from their previous salaries to their new ones (Loeffler made $500,000 per year at Auburn; Grimes $400,000).
Loeffler will begin making $400,000 a year from Virginia Tech on July 1, 2014. Grimes will begin making $265,000 a year from the Hokies on July 1, 2013. So really, Tech will pay Grimes $207,500 this year ($75,000 for half the year, $132,500 the second half).
Frank Beamer‘s new contract went into effect on Jan. 1. He has a base salary of $285,944 this year, with a retention incentive of $2,020,672 (for Hokie Club appearances, university PR functions, radio and TV appearances) and Nike and IMG contracts worth $185,000. That’s a grand total of $2,491,616, prior to possible bonuses.
Once the new assistant coaches’ contracts all go into effect, Virginia Tech will be paying them $2,531,570. Last year, only Clemson ($4,246,750) and Florida State ($3,042,050) paid their assistant coaches more in the ACC, according to the USA Today’s salary database, although the Seminoles have had almost a complete staff overhaul, making it unclear what their final payroll obligation will be this year.
February 19, 2013 - 11:29 AM
Very nice rundown on the numbers, AB. Another reinforcement of getting what you pay for. The high salaries for the ‘minor’ assistant coaches shows one reason for their reluctance to move up the ladder elsewhere.
So now Bud is the only assistant with a contract, hmmm… All the other assistants would only be owed six month’s salary if released. A little surprising for Loeffler, but that might be reflective of Frank’s intentions to retire in the next few years.
It will be interesting to see how long Hite & Cavanaugh are retained. It’s also an interesting comparison to the basketball staff salaries, which are in the lower third of the conference. Once more proof you get what you pay for.
AB, if I.m reading this right, it appears both Grimes and Loeffler are taking substantial pay cuts based on their prior positions. I’m sure the cost of living is probably a little less than where they were before, but looks like we were very fortunate to snag these two coaches based on money alone.
crooked, the coaches are paid for the duration of their letters of agreement, not just six months after being released. The end of June is just when O’Cain and Newsome’s letters were up. If the letter goes through 2016 (like Stiney’s, for example), then VT owes the coach the money in his contract through then, even if it were to get rid of him. It’s only offset by whatever salary a coach makes if he gets a new job somewhere, like Sherman at Purdue.
Loeffler and Grimes both are taking a slight pay cut at VT, but they were at SEC salaries before. Those are just going to be naturally inflated because of competition within that league to compensate their coaches that much. Leaving the SEC, I’d say the salaries they got is probably about in line with what they would have gotten somewhere else.
Andy, did you not of once say none of the coaches cannot be more than the school president and the difference made up as per coach Beamer. I ‘m guessing that would also apply to Bud, Stinespring and, down the road, Loeffler. Is that correct?
Andy,
I still would like to hear what the dimensions of the current video screen is and what the new one will be.
Thanks!!
Crooked, with the new NCAA rules that do away with dead periods in recruiting, and allows non coaching staff contact with recruits, I don’t see Cav going anywhere. We’re going to see recruiting staffs now and a ton of money poured into it by schools that have it.
AB, the obvious question would then be – how long are the respective ‘letters of appointment’ for Loeffler & Grimes? Secondly, how does a LOA differ from a contract? I know it might be semantical, but the terminology is interesting.
I understand the reduced initial salaries, as that is pretty common. I also don’t think the eventual salaries are out of line with either ACC expectations or nationally.
I have the release from the intro press conference somewhere. I think Loeffler and Grimes have LOAs that to through 2015. I’ll have to find that again.
I think the biggest difference is the term. A lot of contracts have a rollover provision. Stiney’s contract, for instance, was always a five-year deal. VT had to either roll it over each year to extend it as a five-year contract or buy it out. So a LOA isn’t as binding long-term. A three-year LOA lasts three years. Then you get a new one.
I think that’s the biggest difference. There’s probably other stuff that I’m missing.
As for the video board, I still have a call in to VT. Haven’t heard back. Will post when I get more info.
Change of topic:
In your previous post you stated that VT was seeking bids for
companies to DEMOLISH the old score board and then
construct the new one?
Could the company just dismantle the old board so someone
else could put it back together and use it? Seems like a waste
to just demolish it.
You jogged my memory, and you are correct, AB. Loeffler & Grimes have three year LOA’s that end in 2015. I remember that because Stinespring still has a longer guarantee than all of the new coaches.
Pretty good jack for all concerned. That $200k in Blacksburg is like $400K up here in DC, that’s got to account for something although I doubt the cost of living was that high around Auburn or Clemson either.
#9 RT, the problem with trying to resell the current scoreboard is that much of it would need to be changed, anyway, because of the color and logos. Also, the technology of the current scoreboard is old enough that it would only be useful for a big high school somewhere, perhaps. Either that or a DIII school, like Roanoke College or Hampden Sydney.
It would be fair to raise Stinespring’s salary to equal Foster’s. Stiney gets a lot of criticism but his side of the aisle did not give up 99 points to Clemson in 3 games. Fair is fair.
What kind of bonuses do these guys get for going 6-6, with the over abundance of bowls? Not just them, but the rest of the staff, including the AD? That will add quite a bit to these figures, I’m sure, and undeserved money, at that.
#14 Rick;
I’m pretty sure that Bobby Bowden, etc. didn’t take a pay cut when they had one mediocre year every 20 or so… if it became a habit…?
Andy ,
What about the New Practice Facility? Can you find any thing out?
Everyone if you not in One of the Hokie Clubs you should join !
Help us build the Hokies up. Most schools spend alot more on there program than we do!.
In what world is Stinespring worth more then the new OC. Even if the new salary in July goes to 265K for Loefler that is not far ahead of the Beamer Jr. No wonder Tech couldn’t get a top tier OC. Remember, you always get what you paid for.
You read that wrong. Loeffler’s new salary will be $400K, second-highest of the assistants.
The salaries for the new coaches are in line with reasonable expectations. Really, the only salary on the coaching staff that is ‘out of whack’ is Stinespring’s. Of course, being Frank’s boy, that’s not a surprise. Overall, none of the others are either unreasonably high or low. In fact, Loeffler’s $400K might be a little low once that time comes. Depending on production, of course.
Also, keep in mind that Bud gets his $800K annuity the end of 2014, IIRC. I don’t know if that is lump sum, or paid over a few years, but that is when it kicks in.
If that Budster defense keeps giving up an average of 26 per game then he might be getting that annuity from Horace Mann Investments. I am afraid we have seen the best years of VT, this might not just be a one in 20 year blimp.