It is safe to say Urban Meyer is having a pretty good week.
Ohio State's head coach not only signed, sealed and delivered easily the best recruiting class in his now five-year tenure but he saw a considerable spike in his bank account. Just for remaining employed by the university through Jan. 31, Meyer is due a $160,000 retention bonus. Wednesday marked the start of a new year in his current contract, which is good through 2020. The contract year runs from Feb. 1 to Jan. 31.
The school also dumped $50,000 into Meyer's 403(b) Retirement Plan, as long as that sum did not change from when he signed an extension on April 6, 2015. The extension he signed pays him $6.5 million annually. The $160,000 retention bonus is the first of four such payments in the final four years of his contract.
Additionally, the buyout clause in Meyer's contract flipped to another, albeit lesser, chapter. Because he remained employed by the University on Wednesday, Feb. 1, the buyout fell nearly $6.1 million. If Ohio State terminated the head coach "other than for cause" on or before Jan. 31, the school owed him $27,434,457. The number fell to $21,345,100 on Wednesday.
Below are the buyouts from Meyer's contract:
- If Meyer is terminated by Ohio State "other than for cause" between Feb. 1, 2017 – Jan. 31, 2018 — $21,345,100;
- between Feb. 1, 2018 – Jan. 31, 2019 — $15,523,591;
- between Feb. 1, 2019 – Jan. 31, 2020 — $10,038,327; and
- between Feb. 1, 2020 – Jan. 31, 2021 — $4,869,894.
Meyer is also in line to receive the regular monthly portion of his base salary, just like any other time the calendar flips to a new month. His base compensation — total pay just for being the football coach and no other stipulation — is $818,640 or $68,220 a month.
But wait, there is more. Much more.
Meyer's media obligations as Ohio State's head football coach also provide him another sum of money since it is the start of a new month. For what is described in his contract as "Media, Promotions and Public Relations," Meyer makes $2,665,360 every 12 months. That money is paid in equal monthly installments, so he is in line for another $222,113.33 monthly installment from that portion of his contract.
With the start of another contract year coming for Meyer on Wednesday, he is due a monthly payment from Ohio State both for the school agreeing to consult him on what is written as "when it selects equipment, footwear, and/or apparel that has a significant impact upon Ohio State's football team." The school pays Meyer $1,566,000 for this, or $130,500 per month.
To add it all up, Meyer is due $580,833.33 within 30 days of the start of his new contract year (Wednesday) just for remaining head football coach of the Buckeyes. Meyer also received a $250,000 bonus for leading Ohio State to a berth in a College Football Playoff Semifinal game. The Buckeyes lost to Clemson 31-0 in the Fiesta Bowl.
He is also rewarded $50,000 if Ohio State is the Big Ten East Division champion. It shared that crown with Penn State and Michigan this past season, though the Nittany Lions played for the conference championship after they beat the Buckeyes 24-21 on Oct. 22.
The final additional monetary sums are two of multiple incentive-based bonuses stated in Meyer's current contract. He missed out on the following from the 2016 season:
- Big Ten Championship – $100,000
- College Football Playoff Bowl Game Appearance – $200,000
- College Football Playoff Semifinal Appearance – $250,000*
- College Football Playoff Finals Appearance – $350,000
*If Ohio State wins the semifinal College Football Playoff game, Meyer is not entitled to receive the $250,000, according to the contract.
Lastly, should Meyer ever win Big Ten Coach of the Year — something an Ohio State coach hasn't done since 1979 — he is entitled to a $50,000 bonus. Another $75,000 comes down the pipe if he receives National Coach of the Year honors.
Meyer is the third-highest paid head college football coach, trailing only Michigan's Jim Harbaugh and Alabama's Nick Saban. He is 61-6 in five seasons at Ohio State after posting an 11-2 record in 2016.
