VCU basketball coach Shaka Smart just inked a new contract, giving him both a raise and an extension. The contract has the potential of extending through 2028, and Smart’s base salary will be at $450,000 per season with this current contract agreement. However, he is guaranteed 1.45-1.5 million a year when bonuses and supplemental income are added in.
This supplemental income has a story of its own as it increases Smart’s first year up from his previous $800,000, to $950,000. As the supplemental income goes into its second year it increases to $1 million.
Additionally, Smart’s contract states that he will receive $25,000/year for radio and television appearances that are sponsored by the university. Smart may be required to attend/speak at university functions and events. This aspect of his contract will enable Smart to show the university his pride and passion about the institution as a whole. These appearances may also get those affiliated with the university and students on his side and passionate as well.
Along with many winning game bonuses and national television appearance earnings, Smart will earn additional money for ticket sales and fans attendance at home games. Appearing at these university functions as stated above will help Smart get fans out to the arena to cheer his team on and potentially make him more money as well.
Some would say the most important aspect of his contract revolves around the academic successes of Smart’s players. Coach Smart will receive $4,000 for each player who graduates directly after their completed athletic eligibility.
Smart would probably agree with this being one of the most important parts of his contract, not for the money but the fact that scholarship is essential to him. He has repeatedly stated that his players must apply themselves both on and off the court. Smart’s avid attention to the success of his players is one of his best coaching qualities and shows through the graduation time and rates of his players.
Coach Smart’s contract initially covers ten years, from 2013 through 2023. In the first five years the contract gives Smart the option to extend another one year past 2023. With each year added on, it has the potential of extending through 2028. Turning down well known coaching positions with great schools in the past such as N.C. State, UCLA, and Illinois, Smart appears to be in no rush to coach anywhere else.
Smart has been quoted many times stating that he is passionate about building the success of the VCU basketball program. He also has his family to think about with his wife, Maya, raising his daughter, Zora Sanae, in Richmond.
This contract keeps Smart a very busy man, but his team benefits from his outstanding coaching skills as well as his commitment to VCU.
Read more VCU basketball rumors, news and opinion on our VCU basketball page