KNOXVILLE (WATE) – New University of Tennessee Athletics Director John Currie’s five-year deal includes a $1.5 million bonus if he stays the full five years, plus a number of other incentives. If he receives the maximum amount of each bonus or incentive, the university could spend up to $8.4 million on Currie over the course of the deal.
A memorandum of understanding released Friday by the university says Currie’s contract will run from April 1, 2017, through June 30, 2022 and includes a $75,000 signing bonus. His base pay will be $300,000 a year with an increase of $25,000 per year beginning on July 1, 2018.
Previous story: Tennessee hires John Currie as athletics director
The university will also pay Currie $600,000 per year as compensation for personal appearances and media appearances. If he remains athletics director through June 30, 2022, he will receive a $1.5 million retention bonus.
UT also agreed to pay Currie’s buyout to Kansas State University up to $175,000, which according to other media reports, is the amount owed to K-State.
More online: Read the full memorandum of understanding [PDF]
The deal includes a one-time moving allowance of $35,000; a temporary housing allowance of up to $5,000 per month; an expense allowance of $40,000 per year; and a vehicle allowance of $1,700 per month. He will be reimbursed for travel expenses for himself, as well as his spouse if her presence is necessary for that trip.
If Currie is terminated for cause, the university will not owe him any buyout, but if he is terminated without cause, the university will owe Currie $100,000 times the number of months remaining on his contract paid in monthly installments. If Currie decides to leave UT before his contract is over, he must pay the university the aggregate gross base pay that would have been due to him for the remainder of the term. If this happens during the last two years of his contract, then he must pay in a lump sum $25,000 times the number of months left in the term.
Currie is also eligible for anywhere from $90,000 to $300,000 in inventive pay based on the graduation rate and academic performance of UT’s athletes. He will also receive season tickets to UT’s football, men’s basketball, women’s basketball, baseball and softball games, as well as tickets to away football and basketball games and a hotel suite for post-season games.
The grand total of all of these benefits, should Currie receive the maximum amount on all of them, would total just over $8.4 million, not including the cost of season tickets, some travel expenses and other benefits such as health insurance or retirement benefits.