Inside the numbers: Shane Beamer's contract extension
On Friday, South Carolina’s board of trustees approved a two-year extension for Shane Beamer. The extension extends Beamer’s deal through 2027 and comes with a massive raise.
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Beamer will now make $6.125 million in 2023. An additional $250,000 bump will be added every year throughout the life of the current contract. The raise makes Beamer the ninth highest paid coach in the SEC. That doesn’t include Clark Lea’s salary, since Vanderbilt is a private school and doesn’t publicly release it’s contract information.
In 2022, Beamer’s base salary was $2.75 million. That ranked last for any SEC head coach. Again, that doesn’t include Lea. Still, after winning 15 games in his first two seasons, a bowl win, and back-to-back top-ten wins to close out the regular season in year two, it was inevitable that Beamer would see some type of raise. His three wins over top-15 teams in his first two seasons are also more than the two coaches he follows combined, (Will Muschamp 0, Steve Spurrier 1).
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Like most coaching contracts, there’s also incentives built into his agreement.
Non-CFP Bowl (excluding Citrus Bowl): $100K
Citrus Bowl: $150k
CFP First Round Game: $ 300K
CFP Quarterfinal Game Appearance: $500K
CFP Semifinal Game Appearance: $750K
CFP National Championship Game Appearance: $1M
CFP National Championship Game Win: $1.250M
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With the College Football Playoff expanding to 12 teams starting with the 2024-25 season, it doesn’t take a rocket scientist to know that Beamer’s odds for all of these incentives to happen only go up.
The school’s buyout structure will remain the same as his original contract. If Beamer chooses to leave, he would owe the South Carolina $5 million in year one. That penalty de-escalates by $1 million annually each year throughout the life of the contract.
