How much will Georgia Tech pay Brian Gregory?

Here is a copy of the memorandum of understanding between the Georgia Tech Athletic Association and new men’s basketball Brian Gregory. This is a cut and paste version of the document.

Among the things you may be interested in: he will receive a base compensation of $1 million per year, with incentives. Dayton is a private school and not subject to Freedom of Information Act requests, but he reportedly had a contract valued between $750,000 that would have eventually totalled $1 million. His annual salary is less than Paul Hewitt’s. Tech athletic director Dan Radakovich said reports that Paul Hewitt’s buyout of $7.2 million hampered their search process were inaccurate. He had a figure in mind for what he wanted to pay for a quality coach and that’s what they agreed to.

Tech is paying $350,000 toward the buyout of his Dayton contract.

There is a buyout in this contract. Unlike Hewitt’s total, Gregory’s would decline by a significant percentage in Year 3 and then again in Year 5.

Here is a copy of the document:

March 28, 2011

Name: Brian Gregory

RE: Memorandum of Understanding Offer

Head Men’s Basketball Coach – Georgia Institute of Technology

Dear Brian:

It is with great pleasure that I offer you the position of Head Men’s Basketball Coach for the Georgia Institute of Technology (”Institute”), effective April 1, 2011. This Memorandum of Understanding, which presents the material terms of our offer, will be incorporated into a formal employment contract with the Georgia Tech Athletic Association (”ASSOCIA nON”) for execution at the earliest possible date. Your acceptance of this offer will constitute a binding agreement between you and the Institute.

The employment contract will be for a term of six years.

Your compensation as Head Men’s Basketball Coach will be the following:

• Annual base compensation of $ 1,000,000, with no escalating value for at least the first two years:

Salary     $300,000

Radio/TV        $600,000

Apparel & Equipment     $50,000

GTAA Public Appearances    $50,000

• Incentive compensation for achieving athletic performance goals as follows:

o ACC Champion (includes tie) =$ 75,000

o ACC Tournament Champion = $ 50,000

o NCAA Tournament Appearance = $ 25,000

o Each NCAA Tournament Win = $ 25,000

o Final Four Appearance = $100,000

• Incentive compensation for achieving academic performance goals as follows:

o Graduation Success Rate equal to or greater than 70% = $ 75,000

o APR Rates (payment amounts not cumulative)

• Greater than or equal to 930

• Greater than or equal to 940

• Greater than or equal to 950

Maximum incentives earned in anyone fiscal year cannot exceed $500,000. No incentive compensation will be earned/paid for a year if contemporaneous penalties (loss of scholarships) are assessed that year as a result of Academic Progress Report failures during your tenure as Head Coach.

• Full standard benefits on the same terms as provided by the Institute to all professional employees, with contributions and benefit amount based upon the base salary where relevant.

• Reimbursement for your household moving expenses in accordance with Institute policy and state law.

• $1300 monthly vehicle stipend and a mutually agreed upon Country Club Membership.

Among other terms, your employment contract will include the following:

• Provisions prohibiting you from receiving benefits or compensation other than as described above from any other source without prior written agreement. The Institute shall permit you to conduct athletic camps with Institute support in accordance with Institute and Athletic Department policies; however, the financial risk and benefit will remain with you.

• Provisions stating that if you resign, or if the contract is terminated for “good cause” (see Addendum “A”), the ASSOCIATION shall not be liable for any payments or benefits after the date of termination, except those earned prior to termination.

• Provisions allowing the ASSOCIATION to terminate your employment without “good cause” that would require the following payment to you based on a percentage of the remaining value of base compensation under the contract:

100% of Year 1

plus 100% of Year 2

plus 75% of Year 3

plus 75% of Year 4

plus 50% of Year 5

plus 50% of Year 6

Payments would be made monthly over the period of years that were remaining under your contract (”Payout Period”) at the time of termination, and would be offset by 50% of any compensation you are paid or contract to receive during that

Payout Period.

• Provisions in which you agree not to seek, consider, or apply for other positions without prior notice to the ASSOCIATION. Additionally, a buyout of$750,000 if you resign before the end of 2012, and a buyout of $300,000 if you resign at any point thereafter.

• Provisions in which the ASSOCIATION, upon invoice, will pay the University of Dayton or its designee up to $350,000 towards the release of obligations for Coach Gregory.

• Provisions in which the ASSOCIATION agrees to review the contract with Coach Gregory within 90 days of the end of the 2012-13 season.

• Provisions setting forth your duties as Head Men’s Basketball Coach (see Addendum “B”).

• The provisions of this Memorandum of Understanding are subject to the certification of Brian Gregory, as evidenced by his signature below, that:

• (a) The information and credentials listed and described on the resume attached as Addendum “c” and in any other application materials for this position are true and correct and all respects; and

• (b) There are no past, current or pending felony charges against Brian Gregory that would preclude my employment with the Georgia Institute of Technology or the Georgia Tech Athletic Association;

While these terms are contingent upon our executing an employment contract, I trust that every reasonable effort will be made to mutually conclude that process within 60 calendar days of your start date. However, this Memorandum of Understanding will serve as the contract if a formal contract is not signed within 60 calendar days. It is with great anticipation and enthusiasm that I offer you the position of Head Men’s Basketball Coach at the Georgia Institute of Technology. Assuming that you are amenable, please indicate your acceptance and agreement to these terms by signing below.

I have every confidence that you will lead our Men’s Basketball program with integrity and pride, and I look forward to welcoming you as a member of the Yellow Jacket family.

Dan Radakovich

There’s more that I won’t include.

– Doug Roberson, AJC

42 comments Add your comment

bring back glory days

March 28th, 2011
8:20 pm

I hope thre’s something left in the kitty for a good staff, preferably one designed to energize this otherwise energyless hire.

bring back glory days

March 28th, 2011
8:21 pm

First by the way

Max Sizemore

March 28th, 2011
8:29 pm

“There are ADDENDA that I won’t include.” Addendum is singular. Oh, that’s right; the AJC can’t pay for copy editing any more.

Dave

March 28th, 2011
8:32 pm

6 years? Ugh….

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the real Old Gold

March 28th, 2011
8:40 pm

We shall see.

Biff Pocoroba

March 28th, 2011
9:07 pm

No bonus for making the NIT like Hewitt got so that is good The other good thing is I will be able to save money on buying season tickets again for a while. I’ll just stick to women’s tix again.

Jimmy

March 28th, 2011
9:20 pm

Dude gets a $1300/mo stipend for his vehicles?? On top of the salary he already makes. Wow! Gotta love America! I’m in the wrong business.

Gordon

March 28th, 2011
9:20 pm

I look forward to supporting Coach Gregory and the team.

paul hewitt

March 28th, 2011
9:28 pm

Want to buy some gold ties?

George Stein

March 28th, 2011
9:46 pm

That’s exactly what I thought, Jimmy. I can only conclude that it’s an industry standard.

sandysprings jacket

March 28th, 2011
9:49 pm

Welcome to GT and THE ACC, CBG. I am excited about the upside and the future. I hope yo earn that additional $500K, it will be worth every cent! No one knew who Bobby C. was 30 years ago either, turns out we named the court after him. I have suffered through some miserable seasons lately but not even the coaching of PH would cause me not to buy tickets or support the players and the Institute! Just beat UGA in Athens and i am sold!

Time to Buzz

March 28th, 2011
9:55 pm

Great job Rads and welcome coach BG. Over look the idiots above with smart remarks. They’re not real fans anyway. Not u Gordon..
I also will support the new man . Now get a staff and some good recruits.

daytonhoopfan

March 28th, 2011
10:04 pm

Sorry Tech Fans, this guy is just not that good. watchedhim the last few years coaching dayton. always jumping up, shouting, mucho histrionics. always knows which tv cameras are on. a junior varsity little ricky pitino. paul hewitt is a much better coach. this ain’t no upgrade.

stinger1

March 28th, 2011
10:12 pm

alot of dayton fans on GT blog..tells me you already miss Coach BG. Well if u like Hewitt u hire him and ST?U.
If he don’t get the job done he’ll be gone but until then he’s the man.

Tokyo jacket

March 29th, 2011
12:23 am

Is there anyway we hire Craig Neal and/or Mark Price as assistant coaches? Talk about reenergizing the fanbase, that’d definitely be a twofer.

5150 UOAD

March 29th, 2011
12:44 am

6 YEARS? BS!!!!!!!! It should have been 5 at the MAX. That would be 1 yr with other coaches players and the TRAVELING Home court. 4 more years to show his recruiting and coaching ability. Plus an offer to hire Price. If Price wants to LEARN to be a Head Coach and/or Neal to replace him in any event in the future.

Chuck Norris

March 29th, 2011
1:02 am

About the only thing more ludicrous that fans trying to pick a coach is fans trying to figure out how to pay him.

Chuck Norris

March 29th, 2011
1:04 am

DRad wouldn’t and shouldn’t have hired a coach worth any less than a million a year, and paying any of the available coaches out there much more than that would have been foolhardy. Let some other school throw away money on Shaka…

Chuck Norris

March 29th, 2011
1:06 am

Leave the money matters to the bean counters, and the hiring decisions to the professional administrators. As fans our “job” is to support the coach, support the team, and do what we can to help them win, as long as they represent the Institute with dignity and honor. Or, as long as they beat the hell out of UGA.

Wilson Dunkit

March 29th, 2011
1:07 am

daytonhoopfan (aka dawgfan): then you are welcome to Paul Hewitt to “upgrade” your program.

Wilson Dunkit

March 29th, 2011
1:08 am

OK, ACC: We upgraded our program: now UP YOURS.

Buzz Me

March 29th, 2011
4:45 am

Guess on a million bucks its pretty hard to afford a car and gas. Can’t we send the Stinger for him?

Jackets 2011

March 29th, 2011
6:14 am

Where was the attorney who wrote this contract when we needed him for Gailey’s and Hewitt’s contracts?
I repeat a point I’ve made before: if you want to scream about Hewitt’s contract, do so about Gailey’s too.
I’m curious what Gailey makes now as Bills head coach.
I’ve been curious who hires the Tech’s ADs.
And who was the heroic genius of Tech sports who hired Heisman from Clemson and gets no credit for it.

just wondering

March 29th, 2011
7:13 am

If he resigns because he keeps getting mugged as he walks on campus, does he get paid for the balance of his contract?

5150's UOAD's dog

March 29th, 2011
7:15 am

Please come rescue me..5150 is looking at my body type again. I keep telling him I’m not his type but he wont listen.

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hired to be fired?

March 29th, 2011
7:28 am

It’s not a good sign when Tech fans are already stressing about the new coach’s contract as it relates to his compensation when dismissed. C’mon guys..it will take at least 2 yrs to realize that Tech screwed up again..so give it a rest for a while anyway.

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lovetravel

March 29th, 2011
8:58 am

I knew it!! It’s all about money and he isn’t going to do nothing but a coach!! Give that money to someone else and let us help the defict. That is sick to my stomach because all they care is money and money and don’t ever care about antyhing else. I don’t like this at all. Please stop spend money on stupid idea or think it a big deal. I hate to see GA TECH waste money on something that isn’t right. Ever if the team lost and you going to still lost money by fired him. Wake up people stop worry about $$$$ stop it and be happy you are work and enjoy life than want someone to pay you all that

MSB

March 29th, 2011
9:40 am

Lovetravel,

Were you intoxicated when you typed your post? That was the most incoherent paragraph I have ever read! I am amazed at the number of people on this blog who think they are qualified to give an opinion on GT hiring practices or evaluate the qualifications of Coach Gregory. It is also obvious that many who post on this blog did not attend the “Institute”(or any college or university) as most of the bloggers posting here write on a 3rd grade level. Good luck Coach Gregory!

collegeballfan

March 29th, 2011
9:44 am

“… always jumping up, shouting, mucho histrionics. always knows which tv cameras are on…”

Sounds like Mike Krzyzewski to me.

JacketInTexas

March 29th, 2011
10:04 am

collegeballfan – We can only hope he’s like Krzyzewski, in so many ways!

GTGreg

March 29th, 2011
10:05 am

Good luck, coach Gregory! I’ll be supporting you and the team during the games, as opposed to playing pocket pool like most of the knuckle-draggers on this blog.

A word to the un-wise… if you really like Mooney, or Smart, or Marshall, or Grant, or whoever else you thought would be a better choice, I suggest you pack up your pantaloons and become a Richmond, VCU, WSU, or Bammer fan. Check back in in a couple of years and we’ll see how that worked out for you.

daytonhoopfan

March 29th, 2011
10:15 am

If dayton were lucky enough to land Hewitt, I would applaud it. But Dayton’s AD is not smart enough. get ready for mediocre (that means bad, bubba) recruiting classes and 14-17 seasons. Think NIT, cause the only way Tech is getting to the NCAA’s will be to buy a ticket.

By the way, live in Maryland, not a ‘Dawg” fan, love the Tech program ever since Bobby Cremins began coaching. This guy is an $800 empty suit. You’ll see.

Mark Price would have been a MUCH better choice for a variety of reasons.

Don’t know who the Tech AD is, but keep your eye on him Tech fans. He appears not to have a clue about hoops.

GT is a 4th rate high school team

March 29th, 2011
10:48 am

Those BUZZARDS will fire him after next season. LOL

J W

March 29th, 2011
10:52 am

Paul Hewitt had gold ties? Oh yea, I seem to recall one or two ocassionally being worn in public – that one with predominate red pattern overlaying the gold does not count. (Avoidance of red attire by Coach Gregory and entire family should have been included in the contract.)

J W

March 29th, 2011
10:59 am

Okay, GT family: this is the way it is. (1) Thank you and goodbye and good luck to Coach Hewitt. (2) Welcome to the program, Coach Gregory. (3) Contract period begins April 1st; but the work begins today, evalutating current team members and assuring supporters the program is in good shape moving forward. *I hope the wife and family can handle coordinating the move and all associated with that as your time for next 2 years will be fully needed with the team.

GTGuy44

March 29th, 2011
4:55 pm

Time To Buzz. What planet are you on. This guy is a mediocre coach at best. He has a low 60% winning percentage. If he is so good why has he had to wait until he is 44 to get a big time job? Radakovich does not deserve plaudits, but he does need an exit from Tech. He is a big problem.

J W

March 29th, 2011
6:40 pm

GTAA – please get someone who is competent to review AND correct the grammatical, spelling, and mis-use of terms in this MOU before it is copied into the official contract.

Jerry

March 29th, 2011
9:07 pm

I don’t see any incentives for winning the NCAA title…

[...] Personally I’m only lukewarm on this hire. Even though Georgia Tech AD Dan Radakovich states that neither Paul Hewitt’s buyout nor the cost of the basketball arena renovation hindered Georgia Tech financially, I find that a little hard to believe, but OK. His base salary will be $1 Million which is a little on the low end for what you may see NC State and others pay for their new coach. Rather than list the entire details of Gregory’s deal here, let me just link you to the AJC.com’s report on how much Gregory will be paid. [...]