The contract South Florida gave Steve Masiello

By Nick Veronica

Manhattan basketball coach Steve Masiello signed a contract to become the next head coach at South Florida in March, only to have the contract voided when a search firm realized he never graduated from Kentucky and lied about his resume.

Deadspin got hold of the contract this week, and it’s uploaded here for all you sport law professors to go nuts with. (It looks like this was printed/scanned at a Marriott hotel? The Marriott needs a new scanner.)

Masiello would’ve earned more than $6 million over 5 years at USF (Article 5a), with a base salary of $415,000 (Article 3) and benefits and additional compensation adding at least $765,000 a year (Article 4a). His bonuses could’ve totaled more than $1 million annually (Article 5b). Too bad Article 10 did him in.

If you ever find a coach’s contract online or get ahold of one, pass it along. Here’s dissecting this one, article by article:

Introduction

masintro

Fairly standard stuff here. The contract was dated March 24 and signed early March 25, according to the printer time and signatures at the bottom. USF gave him 30 days to agree to execute the full “Head Coaching Agreement,” which presumably further laid out how USF expects its basketball coach to run the program.

Article 1: Term of Employment

Screen Shot 2014-04-06 at 1.20.43 AM

Masiello’s deal would’ve been for five years, ending March 31, 2019 … you know unless they’re still playing in the postseason at that time, then he gets to still be the coach.

Article 2: Coach’s duties

Screen Shot 2014-04-06 at 1.25.18 AM

“Coach will … devote his full time, energy, and abilities for the exclusive benefit of the University” = hahaha we own your life now.

Article 3: Base Salary and Benefits

mas4

Finally getting into the good stuff. Masiello’s base salary would’ve been $415,000, which was to be “paid from a variety athletic related revenue sources [sic] as determined in the discretion of the Athletics Director,” which sounds kind of weird on the surface but homeboy’s getting paid so who cares where it’s from?

“Coach will receive any and all other regular employment benefits provided by the State of Florida…” is probably insurance, that kind of stuff, expect he waives his right to earn money off of leftover vacation and sick days.

Running total: $415,000 * 5 years = $2,075,000

Article 4: Additional Compensation and Benefits

Continue reading