New University of South Florida head coach Charlie Strong will be getting the bulk of his pay for the next two seasons from the University of Texas.
According to Joey Knight of the Tampa Bay Times, Strong signed a 5-year, $9.8 million contract with USF. However, the first two seasons of the contract will pay Strong $500,000 in base salary and other compensation. After those two years, Strong will be paid $2.5 million through the remaining three years of the contract, per Knight.
BREAKING: Charlie Strong's #USF salary -- 5 years, $9.8 million. First 2 years is $1 million annually (500K base + other compensation)
— Joey Knight (@TBTimes_Bulls) December 13, 2016
The structure of the contract allows South Florida to have Texas continue footing the bill for firing Strong. Based on his contract at Texas, Strong was to be paid approximately $5.2 million over the next two years, unless he took a new job and then. According to the Texas Tribune, "if Strong got a new job, the terms of his buyout at UT-Austin would be reduced by half of the amount of Strong's salary at his new job."
As a result, Texas will pay Strong approximately $4.95 million to coach the University of South Florida Bulls next year.
In Year 3 of deal, after Texas' buyout obligations expire, Strong's salary jumps to $2.5 million.
— Joey Knight (@TBTimes_Bulls) December 13, 2016
When added to the more than $5 million given to new University of Texas head coach Tom Herman, the Longhorns will be paying two coaches more than $10 million to be coaches for the next two years.
For reference purposes, the pay Strong and Herman receive next season will mean the University of Texas will be paying two of the top 10 highest paid coaches in college football, according to the USA Today college football coaching salaries database.
If Strong stays at USF through the five year contract he signed, he will have made $34 million over 8 years, according to footballscoop.com.
