Breaking down Lance Leipold’s new contract with Kansas football ahead of 2024 season
LAWRENCE — A little more than a year after Kansas Athletics last announced a new deal for Jayhawks head football coach Lance Leipold, KU did so again Wednesday.
Leipold, already under contract through the 2029 season, is receiving a raise through the six contract years the amended deal now covers. The members of his staff are being valued for their role in not just aiding in the rapid rebuild Kansas is enjoying, but for how important they are to ensuring that rise continues in a new-look Big 12 Conference. And it all adds to the momentum the Jayhawks are experiencing after back-to-back bowl appearances, a bowl victory and the start of a massive renovation project with David Booth Kansas Memorial Stadium.
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“We are incredibly proud of what our football program has accomplished over the first three seasons in Lawrence, and look forward to the continued challenge of bringing a consistent winner and championship home to the University of Kansas,” Leipold said in a Kansas release. “With the alignment that exists between Chancellor Girod, Travis Goff and Kansas Football, it gives us great confidence in the future of the Jayhawk program, and we are thankful and humbled by the support of the University and Kansas Jayhawk fans everywhere.”
Here’s a change to how much money Lance Leipold is set to make each year
There is no change to Leipold’s base salary of $500,000. However, the professional services payment section has been amended.
Between professional services and royalty payments, Leipold will make $7,791,667 in the current contract year, which is year one. That figure is larger than what he is set to make in the years that follow, but it's important to note here the first contract year covers a more significant length of time than the contract years that follow — 17 months (Dec. 1, 2023 to April 30, 2025) compared to 12 months (May 1, 2025 to April 30, 2026, and so on through the deal's end).
In the years that follow, regarding professional services and royalty payments combined, he’ll make $5,650,000 (year two), $5,800,000 (year three), $5,950,000 (year four), $6,100,000 (year five) and $6,250,000 (year six).
Lance Leipold also adds new annual retention payment structure
Leipold will now also receive a $500,000 annual retention bonus as long as he is still the head coach each year on Feb. 1, starting Feb. 1, 2025 and rolling through Feb. 1, 2029. And on top of that, there will also be a $500,000 retention bonus paid out after the last regular season game of the 2029 season, which includes the Big 12 championship game if applicable.
That brings Leipold's average compensation for each contract year, including base salary, professional services and royalty payments and retention bonuses, to a figure that's close to $7.3 million — before other incentives/bonuses and miscellaneous benefits.
Lance Leipold also receives a signing bonus
With the execution of this agreement, Leipold will receive a signing bonus of $1 million that will be paid out in two separate installments during the first contract year.
Lance Leipold also receives a private airplane company membership
Leipold will get a membership with a private airplane company that’s valued at $20,000 per month for his own personal use, and any funds not used by the termination of the agreement will be paid out to Leipold.
Lance Leipold’s bonus structure has been amended
In addition to what was already in place, some notes were made.
Leipold can earn $50,000 if the team finishes in the top 25 of one or more of the USA Today, AP, ESPN, Coaches’ or College Football Playoff national polls. He can earn $50,000 if Kansas wins seven regular season games. He can earn $200,000, starting in 2024, if Kansas wins nine or more regular season games.
Assistant, staff salary pools see increase
Starting in the first contract year, which is the current contract year that runs through the 2024 season, the pool for the assistant coaches and head strength coach will be $6 million and it will increase each year by $200,000. For the football staffers that don’t include Leipold, his assistants or the head strength coach, the pool will start at $2.9 million and increase each year by $100,000.
On or around April 1, 2026 there will be a meeting “in good faith” to see if Leipold’s annual compensation and the salary pools referenced are within the top half of the Big 12. If any of those don’t meet that standard in the Big 12, increases will follow.
If Lance Leipold terminates the contract, here’s what would be owed to KU
Leipold’s contract includes a reference to what it would cost if he chooses to leave Kansas, including for a position at another NCAA institution or in the NFL.
That would be $6 million if Leipold leaves on or before April 30, 2024. That would be $5 million if he leaves between May 1, 2024 and April 30, 2025. That would be $4 million if he leaves between May 1, 2025 and April 30, 2026.
Moving forward, that would be $3 million if Leipold leaves between May 1, 2026 and April 30, 2027. That would be $2 million if he leaves between May 1, 2027 and April 30, 2028. That would be $1 million if he leaves after May 1, 2028.
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Jordan Guskey covers University of Kansas Athletics at The Topeka Capital-Journal. He is the National Sports Media Association’s sportswriter of the year for the state of Kansas for 2022. Contact him at jmguskey@gannett.com or on Twitter at @JordanGuskey.
This article originally appeared on Topeka Capital-Journal: Here's what you should know about Lance Leipold's Kansas football deal
