USF paying Holtz as much as Louisiana Tech
USF's buyout with former football coach Skip Holtz is hefty enough that the Bulls will wind up paying the same amount over the next five years as Louisiana Tech will pay him to be its head football coach: $500,000 a year for the next five years.
Holtz's contract, released Wednesday as it awaits approval from the Louisiana university system's board of supervisors, will pay him an annual base salary of $200,000, plus a $300,000 annual supplement, evenly matching USF's annual buyout as a result of the contract extension Holtz was given by USF in June.
If Holtz were to leave Louisiana Tech before the end of the 2014 season, he would have to pay the university $1 million -- essentially his entire compensation for those two seasons. If he leaves Louisiana Tech after the 2014 season but before the completion of his contract at the end of the 2017 season, his buyout would be $500,000.
Holtz was fired in December after a disappointing 3-9 season and a 1-6 showing in the Big East. USF has since hired former Western Kentucky coach Willie Taggart, who will earn $1.15 million per year under his five-year contract, down from Holtz's salary of $2 million.