Commercial Appeal:
Mike Norvell’s contract with the University of Memphis is a five-year deal that will pay him $1.8 million in his first year, according to a memo of understanding released by the university Tuesday afternoon.
The contract, which includes a $500,000 buyout and a salary pool of $2.51 million for assistant coaches, escalates annually. It will pay him $1.86 million in 2017, $1.92 million in 2018 and $1.98 million in 2019. Portions of the contract will be renegotiated in the fifth and final year, according to the memo.
In total, the contract will pay Norvell $9.54 million through December 31, 2020.
Norvell will also be eligible to receive to-be-announced annual performance incentives for win totals, academic progress rate benchmarks and individual coaching honors.
http://www.commercialappeal.com/spo...-deal-18-million-in-first-year-362513841.html
Mike Norvell’s contract with the University of Memphis is a five-year deal that will pay him $1.8 million in his first year, according to a memo of understanding released by the university Tuesday afternoon.
The contract, which includes a $500,000 buyout and a salary pool of $2.51 million for assistant coaches, escalates annually. It will pay him $1.86 million in 2017, $1.92 million in 2018 and $1.98 million in 2019. Portions of the contract will be renegotiated in the fifth and final year, according to the memo.
In total, the contract will pay Norvell $9.54 million through December 31, 2020.
Norvell will also be eligible to receive to-be-announced annual performance incentives for win totals, academic progress rate benchmarks and individual coaching honors.
http://www.commercialappeal.com/spo...-deal-18-million-in-first-year-362513841.html
