University of Oregon releases financial details of Dan Lanning's contract
Dan Lanning’s contract with Oregon is for six years, $29.1 million dollars, according to documents released by the university.
The University of Oregon Board of Trustees Executive and Audit Committee met virtually Tuesday and voted unanimously to ratify Lanning’s contract, officially making him the 35th head coach in school history.
According to the document released by the university, Lanning’s contract, if approved, would make him the fifth-highest paid coach in the Pac-12 and the 27th highest-paid coach in the nation.
Lanning’s yearly salary would escalate as follows:
- Contract year 1: $4,600,000
- Contract year 1: $4,700,000
- Contract year 1: $4,800,000
- Contract year 1: $4,900,000
- Contract year 1: $5,000,000
- Contract year 1: $5,100,000
Lanning is the first year of a three-year contract with Georga worth $1.7 million for the 2021 season. Because he left the Bulldogs to become a head coach, that buyout was waived.
Lanning’s Oregon contract contains achievement-based incentives, including $500,000 for reaching the College Football Playoff National Championship, $250,000 for reaching the CFP semifinals, $150,000 for a CFP Bowl appearance other than the semifinal, and $100,000 for all other bowls.
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A win in the national championship would earn Lanning another $500,000, and a Pac-12 Championship would earn him $150,000.
If Lanning is named the Pac-12 coach of the year during his tenure, he will receive $25,000, and he will receive $50,000 if he is named AP coach of the year.
Former Oregon coach Mario Cristobal earned was set to earn $4.4 million next season with the Ducks, and it was reported that the school offered him a $7 million deal before he ultimately departed for Miami.
Lanning’s contract, which runs through Jan. 2028, contains a $14 million buyout if he elects to leave UO. After Jan. 2023, the buyout decreases annually to $10 million, $7 million, $3 million, $2 million, and $1 million.
