Ryan Day was officially handed the keys to Ohio State's program on New Year's Day and now, nearly five months to the day after taking over, Day has his contract. Ohio State regents approved Day's 5-year contract on Friday and released the details on Monday.
The contract officially began on Jan. 2 of this year and runs through Jan. 31, 2024. His base salary begins at $850,000, with media and public relations appearances worth $2.39 million, Nike equipment payments worth $1.25 million and one Coca-Cola appearance worth $10,000 -- bringing his initial annual total of $4.5 million.
Day is due $250,000 retention bonuses on Jan. 31, 2022 and Jan. 31, 2024. Other bonuses include:
-- $50,000 for a team GPA of 3.0 to 3.29; $100,000 for a team GPA of 3.3 to 3.49; and $150,000 for a team GPA of 3.5 or higher.
-- $50,000 for a Big Ten East championship
-- $100,000 for a Big Ten championship
-- $200,000 for reaching a New Year's Six game
-- $250,000 for reaching the College Football Playoff
-- $350,000 for winning a CFP semifinal
-- $50,000 for winning a Big Ten Coach of the Year award
-- $100,000 for winning a national coach of the year award
Two clauses are relevant not to Day himself, but to the twisting way in which he found himself as Ohio State's head coach. In the section outlining Day's official duties as the Buckeyes' head coach, there is this:
And in the section detailing acts for which Ohio State can fire Day with cause, there this this:
Day would owe Ohio State $3 million if he left for another job before Jan. 31, 2020; $2 million between Feb. 1, 2020 and Jan. 31, 2021; and dropping $500,000 a year thereafter.