Ohio State trustees approve Ryan Day contract, Gene Smith extension
The Ohio State University Board of Trustees voted Friday to approve a five-year contract for head football coach Ryan Day.
An extension for Senior Vice President and Wolfe Foundation Endowed Athletics Director Gene Smith was also approved by trustees. The contract for Day, former offensive coordinator at Ohio State, is dated Jan. 2, 2019, to Jan. 31, 2024, and Smith’s agreement is extended until June 2022.
The first-time head coach’s employment agreement largely mirrors a term sheet released by the university earlier this year. The deal averages about $4.5 million annually with a base salary of $850,000.
Day will receive almost $2.6 million for media and promotion, including radio and television appearances with Ohio State media partners, for the first year and $2.1 million for the next four years. Day receives another $1.25 million as part of the university’s partnership with Nike.
Some of Day’s performance bonuses include $150,000 if the team posts a 3.5 annual grade point average, a $100,000 bonus if the team wins a Big Ten championship and $350,000 if the Buckeyes appear in the College Football Playoff championship game.
Smith’s extension begins in 2020. His compensation includes an annual increase of $100,000 on his base salary of $1 million and $420,000 per year in supplemental compensation for media and other specified responsibilities.
Smith also qualifies for bonuses based on academic and athletic performance for Ohio State teams, with a maximum of $130,000 in bonuses in a single year.