Maybe it’s bold. Or maybe it’s just smart business.
When you’re the defending national runner-up, and among a small batch of schools favored to win it all the following year, perhaps you should cover your bases.
Clemson ended up doing that in 2016, and it paid off in a big way.
We’re talking, of course, about bonus insurance.
According to The Clemson Insider, Clemson invested $272,500 last summer to help with coaches’ bonuses.
Atlanta-based broke Risk Point Consulting ended up cutting the school a check for $1.3 million after the Tigers beat Alabama in January’s national title game — a win that meant plenty of bonuses for Clemson’s staff.
“It was the craziest thing,” (deputy AD Graham) Neff said. “I got it and I went and got Eric (George) and Dan (Radakovich) and said ‘Here it is boys!’ That decision we made in the summer, prior to the season, saved us a million bucks.”
The $1.3 million paid off well considering Clemson’s coaches and staff bonuses increased by $1.15 million from 2015 to 2016, which was due largely to the outcome of the College Football Playoff National Championship Game.
Clemson had a net savings of $1.05 million.
The Tigers’ staff accumulated $2.26 million in coaches’ bonuses last year, according to TCI. Head coach Dabo Swinney this year will net more than $6.1 million in total salary, which includes a $1.75 million bonus for winning the national title and hitting APR marks.
Neff tells TCI he has spoken to Risk Point Consulting and obtained a few quotes for 2017, although the prices and benchmarks may vary depending on the team’s expectations each season. (For example, Clemson could insure an ACC title as opposed to a national title, and so forth.)
In any event, the school cashed in nicely this past season after betting on itself.
For more Clemson news, visit TigerIllustrated.com.
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