Charlie Weis $19 Million Buyout Package Likely at Notre Dame

Image: Charlie Weis $19 Million Buyout Package Likely at Notre Dame

Friday, 24 May 2013 09:10 AM

By Megan Anderle

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Buyout payments for Charlie Weis, the dismissed Notre Dame football coach, may approach $19 million by the end of his installments; meanwhile, current and former football coaches cost the university around $3,142,923 for the 2011 season.

Since he was fired in 2009, the ousted Irish coach has accumulated $10.8 million. His most recent buyout was $2,054,744, according to federal tax documents the school provided the Chicago Tribune on Thursday.

Urgent: Is Obama Telling the Truth on IRS, Benghazi Scandals?

The most recent buyout was the second consecutive payment of $2,054,744. He received an initial payment of $6,638,403 after his firing. Weis has four more annual payments to go through December 2015, and if the coach keeps getting the same $2 million-plus figure, it would bring his total buyout package to a whopping $18,966,867.

Weis became the University of Kansas' head coach in December 2011, after working as an assistant coach for the NFL's Kansas City Chiefs in 2010 and the University of Florida in 2011. His contract with Florida was scheduled to pay him $875,000 for the 2011 season. Kansas gave him a five-year deal under which he made $2.5 million for the 2012 season, according to the USA Today.

During the July 2011-July 2012 season, Charlie Weis earned more than the university's current head coach, Brian Kelly, according to the university's federal tax return, who brought in $1,088,179 that season.

However, it is likely Kelly had additional athletically related compensation from non-university sources.

"The current head football coach is permitted to receive compensation from external sources with prior written approval from the University," the school noted, income from outlets such as shoe companies that would not have to be reported on the tax forms.

Kelly's base pay was $672,608 with "bonus and incentive compensation" of $289,741, according to the documents. Other compensation and benefits brought the total to more than $1 million.

During the same season, Notre Dame men's basketball coach Mike Brey earned a total of $1,407,509, according to the documents. The amount includes $687,509 in base salary, bonuses, "other reportable income," retirement, and deferred money and non-tax benefits, plus $720,000 from Play by Play sports, which is now known as Notre Dame Sports Properties, according to the Chicago Tribune.

Muffet McGraw, Irish women's basketball coach, earned a total of $1,145,441, according to the form, with $900,441 in compensation from the school and $245,000 from Play by Play sports.

Jack Swarbrick, the Notre Dame athletic director, earned $1,085,260 from the school, according to the latest forms.

Urgent: Is Obamacare Hurting Your Wallet? Vote in Poll

Related stories:

Notre Dame Shines on and off the Field

How Will Manti Te'o Hoax Affect Notre Dame Star's NFL Draft Status?


© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Send me more news as it happens.
 
 
Get me on The Wire
Send me more news as it happens.
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Top Stories

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved