WEST LAFAYETTE, Ind. (WLFI) - Purdue trustees have voted to move forward to hire Darrell Hazell as the new head football coach at Saturday's board meeting.
The board's action ratifies Hazell's hiring within terms outlined in a summary of provisions that provide the basis of a six-year contract. The terms also set up bonuses for the team's academic performance and average annual home football game attendance as well as team athletic performance, our sister station WLFI reports.
Hazell's fixed annual compensation in 2013 will be $2 million, which includes a base University salary of $250,000 and a $1.75 million supplemental stipend as compensation for radio, television and other appearances, $300,000 of which could be deferred if a suitable agreement within IRS rules can be used. His bonus compensation would possibly total up to $1 million more if he meets all the "milestones" outlined in the summary.
The term summary additionally includes a compensation pool of $2.1 million for Hazell to hire assistant coaches as well as a $725,000 interest-free loan to cover the cost of his buyout at Kent State, where he previously coached for two seasons. The loan will be forgiven in installments overtime as Hazell meets all of those conditions.
48-year-old Hazell was named new head football coach on Dec. 5, making him the 35th coach and the first black head football coach in Purdue's history.
Hazell will make more than former head coach Danny Hope.
"It's all about our student athletes, and it's about winning championships. But it's also about our athletic department funding itself," said chairman of the board, Keith Krach.Other Benefits Coach Hazell will receive:
* Retirement - Participation in Purdue's standard retirement plans
* Family Membership at the Lafayette Country Club
*Season Pass at Birck Boilermaker Golf Complex
*Nike Apparel Allowance $20,000
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