As you know by now, Juwan Howard is the new basketball coach at Michigan.
On Thursday, according to the Detroit Free Press, Howard’s contract details were revealed and it could be worth up to $11.2 million over five years.
From Detroit Free Press:
His base salary is $400,000 each year, while his total compensation escalates with each season.
In Year 1, Howard will make $2 million. That jumps to $2.1 million in Year 2, $2.2 million in Year 3, $2.4 million in Year 4 and $2.5 million in Year 5.
If Michigan decides to moved on from Howard early, the buyout starts at $5 million in Year 1 and decreases each year. The buyout drops to $4 million in Year 2, $3 million in Year 3, $2 million in Year 4 and $1 million in Year 5.
U-M’s buy-out would only be applied if Howard was terminated without cause.
In the case that Howard leaves U-M, he would owe the university a buy-out equal to 50 percent of U-M’s buyout, or $2.5 million in Year 1, $2 million in Year 2, $1.5 million in Year 3 and so forth.
