Curators approve contract for Mike Anderson
The seven-year deal will pay the Missouri basketball coach $1.35 million each season.
Friday, April 3, 2009 | 1:50 p.m. CDT;
updated 3:16 p.m. CDT, Friday, April 3, 2009
ROLLA — The UM System Board of Curators has signed off on a new contract for Missouri basketball coach Mike Anderson.
UM System President Gary Forsee made the announcement at a news conference following the curators' meeting in Rolla that the contract is for seven years and is worth a guaranteed $1.35 million annually.
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An additional $200,000 will be deferred each season, and that compensation will be accessible after the fourth and seventh years of the contract.
Forsee said the curators approved the contract unanimously.
Here's what others are saying:
Kansas City Star
Missouri curators approve Anderson's contract
ESPN.com
Anderson gets new seven-year deal
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Now, when are people going to rightfully question how much MU is paying Anderson when other employees aren't getting raises, face potential furloughs, and will have to now contribute a cut of their salary toward a retirement fund. Sure, Anderson has done great things for Mizzou, but did the Curators make the most prudent move?
How much revenue does the average professor bring in? Not as much as Anderson. Besides, MU offered less money than some other schools and he chose to stay here. They could have offered so much more money than they did. Isn't the budget for athletics different for the rest of the university's budget?
The athletics department makes all of its own money, completely separate from the University's budget. No state money is given to the athletics dept, so they are pretty much free to use it however they want. They definitely made the correct move here. By increasing Anderson's salary, they keep him here, drawing more students for a better basketball program, and bringing more money to the academic programs at the University.
Anderson's wins in the tournament mean that the Big 12 will receive about $800,000 more for the next six years. That money will be distributed among schools in the Big 12. That doesn't count revenue Anderson is helping bring to Missouri athletics via televised games, better attendance, apparel sales, increased ticket sales, etc.