He's one of the most beloved people in Richmond and he's sticking around for at least another few years. VCU's head basketball coach Shaka Smart signed his new contract in June. Through an open-records request, our I-Team obtained a copy.
He took VCU to the big dance. "Nobody has ever won more than one NCAA tournament game. We just won three!" said Shaka to his team during the 2011 NCAA Tournament.
The 35-year-old is one of the most talked about and sought after young coaches in college basketball.
VCU is 84-28 under Smart, over just three seasons. Other schools have tried to woo him away, but Shaka's stayed true to VCU — and VCU is paying him back.
He signed his latest contract on June 29. The eight-year deal could pay him more than $1.36 million each year. His base pay is $450,000, but he also gets $700,000 in supplemental income.
His latest deal also includes a $10,000 clothing allowance and $25,000 a year for radio and television appearances. If his team wins the Atlantic-10 this season, he gets an extra $3,500. It's $5,000 bucks each time his team beats an ACC foe. If it's rival Old Dominion? Shaka gets an extra $2,000.
The fans can also increase Shaka's pay. If VCU sells more than 3,500 season tickets, Smart gets a $20,000 bonus. And if fans fill the seats at the Siegel Center, there's even more money headed coach's way. Meaning, if the Rams average more than 7,000 in home attendance- Smart makes an extra $20,000.
So, how does Smart's contract stack up with VCU's president? Well, if you include the incentives, Michael Rao could make up to $538,500 this year. Shaka's salary is more than double.
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