Steve Addazio will, in a way, fund his predecessor's buyout.
Colorado State will pay Addazio $1.5 million in 2020 according to The Coloradoan, a $300,000 drop off from what the school paid Mike Bobo, half a million dollars less than what the school had committed to Bobo had he returned for the 2020 season, and roughly 15 percent of the $1.825 million buyout owed Bobo for firing him after five seasons on the job.
Addazio signed a 5-year contract that increases by a relatively minor $50,000 per year, taking him to a max salary of $1.7 million by 2024.
Additionally, Colorado State committed $2.8 million for Addazio's top 20 assistants in 2020, a $200,000 cut from the $3 million Colorado State would have paid Bobo's assistant coaches, strength and other senior-level off-the-field staffers.
When carrying those savings forward compared to Bobo's contract, Colorado State will save $2.25 million in the switch from Bobo to Addazio, meaning the school will save $400,000 even after paying the buyout. (That figure does not include any payments CSU may have owed to Bobo's assistants.)
Even with the pay cut, Addazio will be in the top half among Mountain West head coaches. He earned $2.6 million at Boston College in 2019.
Colorado State would owe Addazio $5 million if he is fired without cause before the end of the 2021 season. His bonus structure ranges from $10,000 for a Mountain West coach of the year award to $100,000 for leading Colorado State to the national championship.
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