Mike Locksley's contract has a unique provision
Courtesy of the good folk at the Washington Post, we now have some visibility into Mike Locksley's contract with Maryland.
Locks is set to make $2.5 million base per year, with $100,000 escalator each year thereafter. His initial contract term is five years; but read on...
One unique aspect of his contract is a provision stating that if he remains the head coach the day after their 2019 regular season ends, then his contract automatically extends one additional year. For all intents & purposes what this does is make his contract six years. Smart request from Locks' agent; but the downside to including such a provision (for Maryland) is if things don't work out, Maryland is now on the hook for an additional approximate $2 million of buyout given the way his buyout structure works (65% of each year remaining).
The WaPo has plenty of details about performance incentives, etc...
As always, stay tuned to The Scoop for the latest coaching job information.
Update: Steve Berkowitz of USA Today notes that Locks has "no duty to mitigate" should he get let go. Buyout is all his. That's good work there by his agent.
