COLUMBIA — Missouri athletic director Mike Alden made official the contract extension awarded to eighth-year football coach Gary Pinkel on Wednesday afternoon at Mizzou Arena.
Pinkel receives a guaranteed compensation of $2.3 million per year for seven years, an increase from his current deal that awards him $1.85 million annually. Pinkel also is eligible for a $200,000 deferred compensation payment per year if he remains in Columbia throughout the contract’s duration. Last December, he signed his current agreement that is set to expire Dec. 31, 2012. The new contract will begin Jan. 1 and expires Dec. 31, 2015.
“I certainly think it’s recognition, not only for all the things he has done on the field, but for the things he has done comprehensively throughout the university,” Alden said.
Pinkel’s deal includes increased incentives. He receives $50,000 if he wins the Big 12 North, an increase from $25,000. He receives $75,000 if he wins the Big 12 Conference, an increase from $50,000. He receives $50,000 if Missouri finishes in the BCS top 25 and $75,000 for a top-10 spot. Both BCS incentives were not part of his previous agreement.
The $10,000, eight-win incentive is not included in Pinkel’s new deal. He will earn $15,000 for winning nine games, $20,000 for winning 10 and $25,000 for winning 11 – all amounts remain the same from his previous agreement.
If Missouri sells 40,000 season tickets and averages at least 55,000 fans per game, Pinkel receives $125,000 – an increase from $25,000 in his previous contract. Should the Tigers draw 45,000 season tickets and at least 60,000 fans per game, he receives $150,000 -- $100,000 more than his previous deal.
On Nov. 15, Missouri clinched its second consecutive Big 12 North championship with a victory over Iowa State. Saturday, the Tigers (9-2, 5-2 Big 12 Conference) play Kansas in Kansas City. A week later, Missouri faces either Texas, Oklahoma or Texas Tech in the Big 12 championship game.
“What this does is it allows us to be able to reward him, to recognize him for the great job he has done with our football program,” Alden said. “But even more significantly, what he has done on behalf of our university.”