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By LARRY VAUGHT
It must have been a slow day at www.Forbes.com for writer Chris Smith to write an entire article on how much money Kentucky coach John Calipari could lose financially if Kentucky does not make the NCAA Tournament, or win it as the Cats did last year.
Smith, who reports on the business of sports for Forbes’ SportsMoney group, noted that Calipari has an annual salary of $3.8 million along with a $1 million retention bonus he receives. He also pointed out that Calipari got $800,000 in bonus money last year with $700,000 of that tied to UK winning the NCAA championship.
“In other words, deep tournament runs are a great way for Calipari to supplement his annual salary, but missing the tournament entirely will drastically limit the coach’s earning potential,” Smith wrote.
What Smith fails to note is that many other coaches have similar bonus clauses in their contracts and that most coaches are rewarded for postseason success.
“While making the tournament doesn’t guarantee Calipari much money (he only gets the full $700,000 by winning the whole thing, after all), missing the cut means he’ll be saying goodbye to the chance of taking home a rather significant chunk of cash with just a few postseason wins. Making it to the Sweet 16 alone nets him $100,000,” Smith wrote. “But don’t feel too bad for the coach just yet – he only has to wait until July to collect his next $1 million bonus.”
Again, had to be a slow news day for Smith and Forbes.