The LSU Board of Supervisors is set to vote on the contracts of two major figures in the school’s athletics.
The first is that of the new Athletic Director Scott Woodward. Tiger Rag Editor James Moran says Woodward’s six-year contract is valued at $8 million, with a starting annual salary of $1.1 million and seeing it bumped to $1.5 in years five and six.
“I don’t think that Alleva ever got to a million dollars in total compensation, but clearly it’s a big commitment to Woodward,” said Moran.
Woodward’s contract is not only more lucrative than his predecessor on the base pay, but if Woodward is still on board in 2025, he receives a quarter million dollar bonus, and after six years, that’s a half million. Moran says it’s a testament to LSU’s dedication to Woodward.
“That’s the kind of money that you figure it would take to get him away from Texas A&M, which has basically unlimited resources. They are the richest school in the SEC,” said Moran.
Basketball coach Will Wade’s contract is also being amended as part of his reinstatement. Wade has agreed to waive his quarter million dollar performance bonuses earned in the most recent season. Also, Moran says if the NCAA finds that Wade has committed a level one or level two violation, LSU can send Wade packing.
“Will Wade can be fired with cause and LSU wouldn’t owe him a dime. That to me was the most striking point, along with him forfeiting his performance bonuses for this past season,” said Moran.
In the event that NCAA punishments come down on the athletics department for anything that happened prior to Woodward taking over, Woodward’s contract is automatically extended for two years at a rate of $1.5 million annually.