Dawn Staley’s Contract, Salary & NCAA Tournament Bonuses
Dawn Staley, the remarkable women’s basketball coach at the University of South Carolina, has been guiding the Gamecocks to new heights since 2008. With multiple Final Four appearances and a national championships in 2017 and 2022 under her belt, Staley has become a symbol of success in collegiate sports. As the Gamecocks inch closer to another Final Four, we delve into the details of Staley’s contract, salary, buyout, net worth, and the tantalizing March Madness incentives that await her.
Dawn Staley’s Contract and Salary
In October 2021, Staley and South Carolina agreed to a new seven-year contract valued at a substantial $22.4 million. Her total pay, factoring in outside compensation, comes in at a staggering $3 million for the 2022/23 season, putting her among the highest-paid coaches in women’s college basketball.
Yet, this figure doesn’t include her potential March Madness bonuses or other incentives.
March Madness Incentives
Staley’s NCAA Tournament bonuses are as follows:
- Reaching NCAA Tournament: $25,000
- Reaching the Sweet 16: $50,000
- Reaching the Elite Eight: $100,000
- Reaching the Final Four: $250,000
- Winning the National Championship: $500,000
With the Gamecocks heading into their Elite Eight game on Monday evening, Staley has already banked $100,000. A victory in the next round would secure an additional $150,000 for Staley, and if the team triumphs in the championship game, she’ll collect another $400,000—bringing her March Madness bonus to an incredible half-million dollars.
Currently, the Gamecocks are around -275 with sportsbooks to win the Women’s NCAA Tournament. This gives Staley an implied probability of around 73% of cashing in on her full bonus for March Madness.
Other Incentives and Perks
Apart from the March Madness incentives, Staley’s contract features several other performance-based rewards. These include:
- 11 or more wins in SEC play: $15,000
- Winning the SEC regular season: $75,000
- Winning the SEC Tournament: $50,000
- Winning both the SEC regular season and tournament: $100,000
- Being named SEC coach of the year by the AP or SEC coaches: $25,000
- Winning national coach of the year by the AP, Naismith committee, or both: $25,000
Furthermore, if the Gamecocks are ranked in the AP Poll, Coaches Poll, or both at season’s end, Staley will earn an additional $15,000. She has already accrued $155,000 in other bonuses this season.
The Gamecocks won both the SEC regular season and SEC tournament for $100,000, they also easily cleared 11 SEC wins for $15,000, and Staley was named SEC Coach of the Year or $25,000. Additionally, South Carolina were named in the Top 25 of the AP Poll for another $15,000.
With a possible $25,000 more up for grabs when coach of the year awards are announced, Staley’s total bonus for the 2022/23 season could reach a staggering $680,000. You could say it’s been an okay year for Dawn Staley.
In addition to these incentives, some other perks of Staley’s contract include two cars, tickets to football and basketball games, and a country club membership.
Dawn Staley’s Buyout
It is very unlikely that South Carolina will fire Dawn Staley in the near future. However, crazy things happen in college sports, so let’s take a lookout at Dawn Staley’s buyout in case her recent performance is not enough for the Gamecocks administration!
In the improbable scenario that South Carolina opts to sever ties with Staley, her buyout is structured as follows:
- Until April 15, 2023: $2,500,000
- April 16, 2023 – April 15, 2024: $2,000,000
- April 16, 2024 – April 15, 2025: $1,500,000
- April 16, 2025 – April 15, 2026: $1,000,000
- April 16, 2026 – April 15, 2027: $500,000
These buyout figures reflect the university’s commitment to retaining Staley as the driving force behind the program.
If Staley decides to depart for another team, she would owe money to the University of South Carolina. This is also a ‘pigs might fly scenario,’ but the buyout in that case is as follows:
- Until April 15, 2023: $4,500,000
- April 16, 2023 – April 15, 2024: $4,000,000
- April 16, 2024 – April 15, 2025: $3,500,000
- April 16, 2024 – April 15, 2025: $3,500,009
- April 16, 2026 – April 15, 2027: $2,500,000
- April 16, 2027 – April 15, 2028: $2,000,000
- April 16, 2028 – April 15, 2029: $250,000
These buyout clauses serve as a testament to Staley’s value to the university and help ensure her continued dedication to the Gamecocks.
Dawn Staley’s Net Worth
Dawn Staley’s net worth is estimated to exceed $5 million. Her wealth can be attributed to her illustrious coaching career, multiple endorsement deals, and her time as a professional basketball player. Staley’s impressive accomplishments on and off the court are a true reflection of her passion for the sport and her unwavering commitment to excellence.
As the Gamecocks embark on another thrilling March Madness run, Staley’s leadership and expertise will undoubtedly be a driving force in their pursuit of victory. With a powerful combination of talent, determination, and the guidance of a proven winner like Staley, the future looks bright for the South Carolina women’s basketball program.