New Charlotte 49ers coach Mark Price’s five-year contract will pay him $500,000 per year, with plenty of additional financial incentives built in.
Price’s base salary of $250,000 will be paid by UNC Charlotte, with the other $250,000 coming from non-university and -state funds.
The contract, obtained by the Observer, does not include a buyout should Price resign before it expires, although he would have to pay UNCC the balance of his base salary multiplied by how many years he would have left on the contract.
Price can add to his income if he meets several incentives, including:
▪ Making the NCAA tournament (10 percent).
▪ Winning the Conference USA regular-season championship ($10,000).
▪ Winning the C-USA tournament championship ($10,000).
▪ Being named conference coach of the year ($10,000).
▪ A percentage of all home attendance single-game and season-ticket gate receipts.
▪ $3 per ticket sold for up to two home games (including Time Warner Cable Arena) against “power” conference teams, plus the Big East.
▪ 50 percent of the gate (after expenses) of an away game versus a “power” conference team (plus Big East) or NCAA tournament team in which Charlotte receives a financial guarantee.
▪ Average team grade-point average of at least 2.50 ($10,000); above 2.70 ($15,000).
▪ Each player who graduates within two years after his eligibility expires ($5,000).
▪ Off-campus speeches ($1,000 each).
▪ Country club membership.
▪ Car allowance ($750 per month).
▪ 49ers football (six) and basketball (15) season tickets; Conference USA tournament tickets (10); 10 NCAA basketball tickets (if Charlotte is playing); Final Four tickets and travel expenses for Price and his wife (if Charlotte is not playing).
With a few minor exceptions, the incentives in Price’s contract are similar to that of former coach Alan Major, who parted ways with Charlotte after five years in March. Major was earning $465,000 per year after receiving a three-year extension in 2010.