Thursday, March 25, 2010

AU's letter of agreement with Barbee....

My good friend and owner of, Scott Reaves posted the following to his website. It's Auburn's letter of agreement with new head coach Tony Barbee, which I thought was very interesting.

March 24, 2010

Dear Coach Barbee,

On behalf of Auburn University, I congratulate you on becoming our head
mens basketball coach. This letter is a summary of the agreement we
have reached. Auburn has offered the position of head mens basketball
coach to you, and you have accepted. The basic terms of our agreement
are set forth below, and it is understood that this letter does not
contain all of the terms of the agreement. You and Auburn will enter
into a separate written contract setting forth the entirety of our
agreement as soon as practical.

The basic terms of our agreement are:

1. You will become the head mens basketball coach effective today.

2. You will be paid $1.5 million annually, consisting of a base salary
($225,000) and payments for assignment of your endorsement, radio,
television and internet rights, fundraising and personal appearances
($1,275,000). The term of the agreement will be six years.

3. You will receive two dealer cars through our dealer car program or
two car allowances each equal to five percent of your base salary.

4. In addition to the annual income of $1.5 million, you will be
eligible for academic and performance bonuses on an annual basis.

5. You will be responsible for assembling a coaching staff subject to
approval by Auburn.

6. You will be responsible for operating the mens basketball program in
accordance with Auburn, SEC and NCAA rules and bylaws and within the
budget established by Auburn. One of our primary goals is to have our
student-athletes graduate with an undergraduate degree, and you will
support our student-athletes in their efforts.

7. We will work together in a timely and cooperative manner to agree
upon the remaining terms set forth in the contract to be executed.

8. The terms of the agreement are contingent upon a review of your
background information, NCAA, etc.

I look forward to our future successes together. Welcome to the Auburn
family. God Bless and War Eagle!

Jay Jacobs
Athletics Director

You can view Scott Reaves's original post HERE

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