Immediately, it was a million-dollar move for Chris Petersen to leave Boise State.
Per the memorandum of understanding he signed with the University of Washington on Friday, Petersen will get a $1 million raise to coach the Huskies next year, with a guaranteed compensation of $3.2 million.
Petersen earned about $2.2 million at Boise State this year.
Over the life of his five-year deal, Petersen is scheduled to earn a minimum of $18 million, with incentives that could raise his earnings significantly.
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“He wants to be paid what he’s worth, and I want to pay him what he’s worth,” UW athletic director Scott Woodward said.
As of now, the $3.2 million salary for 2014 would make Petersen the highest-paid coach at any of the Pac-12’s 10 public universities. Jim Mora, after being pursued by UW, signed a six-year extension with UCLA last week, though UCLA has not released salary details.
“There’s always negotiation, and I’m not going to go into the details of that,” Woodward said. “We came to an amicable agreement, and I think we paid coach Petersen market and we’re going to be competitive in the market.”
Steve Sarkisian, who left Washington for USC last week, earned about $2.9 million this year with the Huskies. USC was reportedly willing to pay its new coach up to $6 million per year.
Petersen, 49, is scheduled to get a $200,000 raise each year, up to a salary of $4 million in the final year of the deal with UW, which expires Jan. 31, 2019.
Under one provision, Petersen would get a one-year extension if Woodward is no longer the athletic director.
Washington has agreed to pay the $750,000 buyout of Petersen’s contract with Boise State, plus up to an additional $500,000 “in the event a tax burden is incurred by you as a consequence of” that buyout sum.
Petersen’s UW buyout is $3 million in the first year, down to $1.5 million in the fourth year.
Washington agreed to provide temporary housing for Petersen for up to 90 days, and the new coach is eligible to receive two vehicles for personal and professional use.
A listing of incentives for the team’s performance:
• Pac-12 championship game appearance: $50,000.
• Pac-12 champion: $100,000.
• Non-College Football Playoff bowl appearances: $150,000 for Alamo or Holiday bowls; $75,000 for any other non-CFP bowl.
• CFP bowl appearance: $300,000.
• CFP semifinal game: $400,000.
• CFP championship game appearance: $450,000 … or …
• CFP champion: $500,000 (Petersen would receive $450,000 if Huskies play in title game and lose, $500,000 if they win).
Incentives for academic performance (not cumulative — the most Petersen can make for academic incentives is $125,000 per year):
• Academic Progress Rate of 950: $50,000.
• APR of 960: $75,000.
• APR of 970: $125,000.
Adam Jude: 206-464-2364 or firstname.lastname@example.org.