Cougars Pay Price For Success 5-Year Deal Includes Annual Base Salary Of $110,000
Nearly two months after having agreed upon the matter in principle, Washington State athletic director Rick Dickson and Cougar football coach Mike Price got together long enough this week to make it official.
And Thursday afternoon the two staged a press conference in Dickson’s office to announce that Price has been signed to a new five-year contract that will pay him $110,000 annually through June of 2000.
Included in the contract are revenues from shoe contracts, television and radio broadcasting rights and summer football camps that are expected to boost the total compensation package to over $200,000 a year.
Price, who has taken the Cougars to two bowl games and is 35-33 since taking the WSU job in 1989, had 18 months remaining on his old contract, which he said paid him an annual base salary of $90,000.
Price’s new contract does not include a buyout clause to prevent him from leaving early, but Dickson said it contains a deferred annuity that should provide incentive for Price to stay.
There is also no rollover clause in the contract, according to Dickson. But the first-year Cougar A.D. added that the contract is structured in such a way that after three years the possibility of an extension or new contract will be addressed.
Price called it a “perfect contract,” considering he wants to stay WSU.
“I really like Washington State University,” Price said, “and it looks like Washington State University likes what we have done here. I think it’s going to build continuity in the program, which is something we Cougars feel like we need here to improve our situation.
“I’m very pleased. It’s a good solid contract.”
Dickson had indicated earlier that he hoped to come up with a contract that would pay Price like the Top 25 coach he was in two of the last three season.
And although he stopped short of saying Price is now in that kind of heady tax bracket, he did say the total compensation package was “in a more appropriate range than it has been.”
Price said one of the main factors in his decision to sign the contract was Dickson’s apparent commitment to upgrading athletic department facilities.
The contract does not mention a facilities upgrade, but plans are in the works to construct a new building in front of Bohler Gym that will house a new weight room, along with offices, meeting rooms and study areas.
“Rick has the same vision for Washington State football that I do,” Price said.
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