RICHMOND, Va. (AP) — Will Wade will be paid $1 million per season as the men’s basketball coach at VCU, and his five-year contract has bonus opportunities that could significantly boost his annual compensation.
The 32-year-old Wade, hired earlier this month after Shaka Smart left for Texas, will draw a base salary of $450,000 and make $550,000 in supplemental compensation such as radio and television programs and participation in events affiliated with the university.
Wade and the university had agreed in principle to terms when he was hired, but the paperwork was not completed and executed until April 24.
Among the bonuses available are $50,000 for making the NCAA tournament, $75,000 for each victory in the first three rounds and $100,000 for making the Final Four and winning the national championship.
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