What are you doing on April 1, 2025? Chances are you have no idea, but Lance Leipold does.
That day, a Tuesday for what it's worth, Leipold will likely wake up, check in with work, and then take Kelly out for a big ol' breakfast. Or at least that's what I'd do.
On that day, Leipold and his representatives will meet with the Kansas administration to decide if, and how much, more money its head football coach should be paid.
It's all laid out in his contract, released by KU on Tuesday.
On or around April 1, 2025, the parties shall meet in good faith to evaluate whether or not Head Coach’s annual compensation, the salary pool for assistant coaches, and the salary pool for football staff are at or within the top half of the Big 12 Conference. If at that time Head Coach’s annual compensation or either of the salary pools are not within the top half of the Big 12 Conference, Athletics will increase such amount(s) to be at or within the top half of the Big 12 Conference.
The deal, agreed upon last week, will pay the 58-year-old $5 million in 2023, with $100,000 annual raises and a $750,000 bonus due within 30 days of signing. The deal will top out at $5.6 million in 2029, unless Kansas bumps it to get Leipold back within the top half of its conference. (Subsequent contract language states that salaries for the Texas and Oklahoma coaches will not be included in the calculation.)
Leipold agreed to a significant coach-end buyout in order to get that level of commitment from Kansas -- at least through the current cycle. He would owe $12.5 million upon leaving before April 30, 2023. The figure drops to $6 million on May 1 of next year, then $1 million a year thereafter. Kansas would owe Leipold 80 percent of the remaining contract if fired without cause.
Leipold will have $5 million a year to pay his on-field assistants and $2.5 million to pay his off-field staff, with $100,000 annual raises to each pool. His bonus structure ranges from $50,000 for reaching seven wins to $500,000 for reaching the national title game.
“I am very thankful for Chancellor (Douglas) Girod and (athletic director) Travis Goff and their commitment to this program and our entire staff. My wife Kelly and I couldn’t be more excited to know we are going to be staying in Lawrence for a very long time,” Leipold said Tuesday. “We have said from the start how happy we are here, and that we plan on being here for a very long time. Since the moment we arrived, we have been welcomed and accepted by the Lawrence and KU communities, and we are very grateful. We are very proud of the progress the program has made over the last 18 months and even more excited about what the future holds as we continue to build a program that will make Jayhawk fans everywhere proud.”
Kansas started the season 5-0 and joined the AP Top 25 for the first time since 2008. Next month, Kansas will play in its first bowl game since that season.
As always, stay tuned to The Scoop for the latest.