T.J. Otzelberger will reportedly make $1 million in his first year as head basketball coach at Iowa State, per a report in the Quad-Cities Times.
Otzelberger, a former Cyclones assistant coach, was lured away from UNLV after the Cyclones fired head coach Steve Prohm in March. The Cyclones won just two games last season and Otzelberger is tasked with resurrecting the program, which saw mass transfers after the season.
In reality, Otzelberger will make just $300,000 in base salary next season. The remaining $700,000 of the $1 million is tied up in non-basketball parts of the job (public appearances, media obligations) and retirement contributions.
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Like most Division I coaches, his contract has a bonus structure, too. So if he’s able to return to the Cyclones back into winners, he will benefit. For starters, a Top-4 seed in the Big 12 Tournament would net him a bonus, with the No. 1 seed providing a $250,000 bonus. If the Cyclones win the Big 12 Tournament, the university forks over another $100,000 to Otz.
In the NCAA Tournament, Otz can rack up $50,000 for an at-large bid and $50,000 every time the Cyclones win an NCAA Tournament game.
Notably, Iowa State will play $3.4 million to UNLV to buy out the remainder of Otz’s contract. So, hiring Otz will cost the Cyclones more than $4 million in 2021-22, unless the buyout money is spaced out.
Perks? The deal has that too. The university will provide Otz a car and a complimentary membership to Ames Country Club.
You can find Matthew Postins on Twitter @PostinsPostcard.
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