Nearly eight months after agreeing to become Colorado State’s head football coach, Mike Bobo officially signed his contract Thursday, therefore releasing it to be seen by the public.
As was reported in December, when he agreed to the contract, Bobo’s deal pays him $1.35 million in 2015, with a $100,000 raise each year after until the end of the contract in 2019. Bobo also received a pro-rated amount during the eight days in 2014 he was employed by CSU after agreeing to the deal Dec. 23.
Bobo, who replaces former coach Jim McElwain, has a laundry list of incentives that were not listed in McElwain’s contract, though all are contingent on the CSU football program meeting or exceeding the Academic Progress Report (APR) cutoff of 930. Bobo’s program must also be free of any major NCAA violations during the calendar year in which he could receive the incentives.
If his program meets the above requirements, Bobo can receive $25,000 for winning six conference regular season games, and an additional $25,000 each for winning the seventh and eighth regular season game.
If Colorado State qualifies for the conference championship game, Bobo will receive $50,000. He’ll receive an extra $50,000 is CSU is selected for a bowl game. Should CSU make one of the six bowls associated with the College Football Playoff, Bobo will receive $100,000, though he will only receive that bonus and not the $50,000 for making a bowl game. However, if CSU is selected to play in the CFP semifinals, Bobo will receive $150,000, and should they make the CFP national championship game, he will bring in an extra $200,000 in addition to what he received for making the semifinal game.
Bobo can also earn $10,000 for winning the conference’s coach of the year award, and another $50,000 for winning one of the three national coach of the year awards. Should he win more than one national award, Bobo is only entitled to one $50,000 bonus.
He is also entitled to distribute $2.4 million in salary to nine assistant coaches, one head strength and conditioning coach, one director of football operations, one director of player personnel, one director of player development and one assistant director of football operations. The “football staff” consisting of the above positions can also receive a bonus equaling one month of their base salary should the team be selected for bowl game, excluding a CFP bowl. Should the team win that game, each member of the staff will receive an additional $2,500.
If the team is selected for a CFP bowl and/or the CFP playoffs, the staff is entitled to a bonus equaling two months of their base salary. Should they win that game, each member of the staff will receive an additional $5,000.
If CSU wins its conference championship, Bobo will have a sum of $50,000 to split between the staff at his discretion.
Possibly the biggest change difference between McElwain and Bobo’s contracts is the amount and term of the buyout, should Bobo leave the program before his initial contract is up. In McElwain’s extension signed last summer, his buyout was set at $7.5 million through 2018.
In Bobo’s deal, his buyout is set at $5 million through Dec. 31, 2016. If he leaves CSU between then and Dec, 31, 2017, his buyout drops to $2.5 million. If the termination of the contract takes place between Jan. 1, 2018 and Dec. 31, 2018, Bobo will owe CSU $1 million. A termination by Bobo between Jan. 1, 2019 and Dec. 31 2019 point will require Bobo to pay nothing.
Collegian Senior Sports Reporter Keegan Pope can be reached at firstname.lastname@example.org and on Twitter @ByKeeganPope.