Nov 19, 2010
Michigan State Sweetens Izzo’s Deal

East Lansing — Michigan State basketball coach Tom Izzo claimed this summer he would be a Spartan for life. Thursday, the university did its part in ensuring that happens.

Athletic director Mark Hollis announced Izzo will get a raise of $500, 000 in his annual salary and be given the use of a private plane for up to 25 hours per year for personal use. In addition, Izzo had been receiving a bonus of $1 million at the end of each season. That amount will now be spread out through the year instead of coming in one lump payment.

“I’m ecstatic about it, Izzo said after practice Thursday. I’m here as long as they’ll put up with me.”

The changes to Izzo’s contract — a seven-year deal that renews each season — bring his annual compensation up to $3.49 million per season. Izzo’s base salary is $375, 0, but his supplemental compensation, which includes the raise and bonus, is $2, 175, 000. Izzo also receives $400, 000 annually from Nike, resulting in the total amount per season.

Hollis said the university used two criteria in coming up with the final contract.

“One, we wanted to make sure he has the tools for him to be successful in his position, Hollis said. Second was to ensure his compensation positions him among the most successful coaches on a national level.”

Due to the complexity of many coaches’ contracts, Hollis said it is hard to say precisely where Izzo ranks nationally, but he did say Izzo is among the top five or 10 in the nation.

Hollis said the change in the contract had nothing to do with Izzo almost leaving to coach the Cleveland Cavaliers of the NBA.

“This current process started before the most recent Final Four and well before the Cleveland situation, Hollis said. This is something that has been going on for a long time.”

The use of a plane for private use has become more common in recent years, according to Hollis. It provides Izzo the freedom to make trips he might not have been able to in the past.

“What it really means is there are times I can use it for half personal and half school, Izzo explained. If there are things I have to be at, I can fly back to be at an event for the university. Sometimes you get back in the wee hours of the morning. Now it can work out a little better.”

Hollis said a private jet is available to Izzo, football coach Mark Dantonio and women’s basketball coach Suzy Merchant for certain recruiting trips. But the change to Izzo’s contract is strictly for personal use, and the coach will be taxed on the amount the university spends as if it were income.

“The complexity is separating what is private and what is business, Hollis said. This arrangement gives Tom the flexibility to not have to make the decision, ‘Do I have to drive to the U.P.? Instead of driving, he can do this.

“He is much more comfortable and we’re much more comfortable making that a personal situation for him.”


Michigan State Sweetens Izzo’s Deal

The Detroit News

East Lansing — Michigan State basketball coach Tom Izzo claimed this summer he would be a Spartan for life. Thursday, the university did its part in ensuring that happens.

Athletic director Mark Hollis announced Izzo will get a raise of $500, 000 in his annual salary and be given the use of a private plane for up to 25 hours per year for personal use. In addition, Izzo had been receiving a bonus of $1 million at the end of each season. That amount will now be spread out through the year instead of coming in one lump payment.

“I’m ecstatic about it, Izzo said after practice Thursday. I’m here as long as they’ll put up with me.”

The changes to Izzo’s contract — a seven-year deal that renews each season — bring his annual compensation up to $3.49 million per season. Izzo’s base salary is $375, 0, but his supplemental compensation, which includes the raise and bonus, is $2, 175, 000. Izzo also receives $400, 000 annually from Nike, resulting in the total amount per season.

Hollis said the university used two criteria in coming up with the final contract.

“One, we wanted to make sure he has the tools for him to be successful in his position, Hollis said. Second was to ensure his compensation positions him among the most successful coaches on a national level.”

Due to the complexity of many coaches’ contracts, Hollis said it is hard to say precisely where Izzo ranks nationally, but he did say Izzo is among the top five or 10 in the nation.

Hollis said the change in the contract had nothing to do with Izzo almost leaving to coach the Cleveland Cavaliers of the NBA.

“This current process started before the most recent Final Four and well before the Cleveland situation, Hollis said. This is something that has been going on for a long time.”

The use of a plane for private use has become more common in recent years, according to Hollis. It provides Izzo the freedom to make trips he might not have been able to in the past.

“What it really means is there are times I can use it for half personal and half school, Izzo explained. If there are things I have to be at, I can fly back to be at an event for the university. Sometimes you get back in the wee hours of the morning. Now it can work out a little better.”

Hollis said a private jet is available to Izzo, football coach Mark Dantonio and women’s basketball coach Suzy Merchant for certain recruiting trips. But the change to Izzo’s contract is strictly for personal use, and the coach will be taxed on the amount the university spends as if it were income.

“The complexity is separating what is private and what is business, Hollis said. This arrangement gives Tom the flexibility to not have to make the decision, ‘Do I have to drive to the U.P.? Instead of driving, he can do this.

“He is much more comfortable and we’re much more comfortable making that a personal situation for him.”






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