College Football: Kansas State Wildcats
MANHATTAN Days after saying he could see himself continuing to coach for quite some time, Bill Snyder has agreed to a new five-year contract with the Kansas State football team that will run through 2022.
Snyder, 78, is the oldest active coach in college football. He will be 83 when this contract expires.
The new contract will increase Snyders pay from $3.2 million to $3.45 million this season. His annual pay will increase by $300,000 at the conclusion of 2019 and 2020. If he remains coach at that time, he will sit down with K-State athletic director Gene Taylor and negotiate a new salary for the final years of his deal.
Taylor had been working with Snyder on a new contract since the end of the 2017 season, when the financial terms of Snyders old contract required an update.
It has been a pleasure watching our football program up close over the past year and seeing one of the greatest coaches in the history of college football continue to positively impact student-athletes while also producing winning seasons on a yearly basis, Taylor said in a statement. With this new contract, we felt that it was important to recognize his commitment to our football program, and we look forward to his continued leadership.
Snyder technically had five years remaining on his old contract, which featured an automatic rollover at the conclusion of each year. In that sense, this is more of a contract update than a contract extension. The new contract does not contain any rollover language.
It does include several new features, though. They are:
K-State must pay Snyder a $3 million buyout if he is terminated without cause.
K-State will pay for Snyder to receive a yearly physical exam at any medical center of his choosing.
Snyder can spend up to $50,000 per year in business expenses.
K-State will offer Snyder a three-scale bonus system. He will receive up to $100,000 for winning a Big 12 championship, up to $350,000 for winning a national championship and up to $100,000 for finishing in the top 10. He can also receive $30,000 for being chosen national coach of the year.
Two holdover perks from the previous contract:
When Snyder decides to retire, he will become a special ambassador to the university at a yearly salary of $250,000. He can hold that job for as long as he is physically and mentally able.
When the Wildcats look to hire Snyders coaching successor, Snyder will be given appropriate input to the athletic director and the president regarding the selection of the next football coach.
Snyder seems ready to continue coaching for the forseeable future. Earlier this week at K-State football media day, he said I could go on for quite some time if I dont get fired and keep having an impact on the players in my program and my family is comfortable with it. I dont see any particular end in sight.
