New deal gives Woolard match on coaches' bonuses
TAMPA -- USF athletic director Doug Woolard signed a new contract extension this summer that will keep him with the Bulls through 2015, with new incentives from USF president Judy Genshaft that allow him to benefit directly from the success of all the Bulls' athletic teams.
"I am very pleased with the confidence and support the university administration has provided our program, and I look forward to continuing to serve our student-athletes and coaches," Woolard said in a statement Monday night.
Woolard, in his ninth year as athletic director, signed a three-year extension in June, and in an offer letter written to him on June 22, Genshaft added a provision "enhancing your ability to earn additional annual performance incentives to demonstrate my intent and desire for success." As a result, Woolard can be paid "incentive payments in equal and cumulative amounts to the performance incentives which are earned and paid to the head coaches" under their contracts. His base salary did not change with the new contract.
USF's 14 head coaches have incentive bonuses ranging from $5,000 for small achievements to $500,000 for a national title in football, and now Woolard can be given matching bonuses. That's in addition to base compensation that now tops $500,000 a year -- an exact salary was not available Monday -- which would make Woolard the fourth-highest paid athletic director out of the Big East's eight football schools.
Nearing the end of USF's fiscal year, on the same day Genshaft sent Woolard the offer letter, he signed an extension for football coach Skip Holtz, and the next day, for men's basketball coach Stan Heath, with both new deals including upgraded postseason incentives. Genshaft co-signed the extensions on June 25, with Holtz's bonus for winning the Big East doubling to $200,000, and $400,000 for playing in the national title game. Heath, whose previous contract paid him $25,000 for making the NCAA Tournament, now gets $50,000 for that, as well as an additional $25,000 for each NCAA Tournament win.
USF did not mention Woolard's new contract on July 6 when the school sent reporters contract information showing the extensions for Holtz and Heath, including a comment from Woolard. Woolard volunteered the offer letter to the Times when asked Monday if he was operating under a new contract.
"I appreciate your willingness to accept this extension, and I look forward to sharing in the many future achievements of USF Athletics," Genshaft wrote to Woolard.