REGENTS APPROVE NEW CU FOOTBALL COACH’S CONTRACT

Mel Tucker’s five-year deal worth almost $15 million. »

Mel Tucker’s contract as the new football coach at the University of Colorado was approved by the CU Board of Regents on Wednesday, binding the two parties through Dec. 31, 2023.

The terms that were approved Wednesday, by a vote of 6-2, will pay Tucker a salary of $2.4 million beginning Jan. 1, with annual increases of $275,000 through Dec. 31, 2023. The five-year deal is worth almost $15 million.

Included in the contract is lucrative incentive compensation, in addition to buyout information. Should Tucker terminate the contract before it expires (i.e. he’s hired by another program), he’ll owe CU $5 million (if termination occurs during 2019), $3 million (during 2020), $1.8 million (during 2021) or $1 million (from 2022-23).

Should CU chose to fire Tucker without cause, the coach will be owed his salary in the year the termination occurred, multiplied by however many years he has remaining on his contract.

Tucker, 46, can receive bonus compensation if any of the following incentives are met:

• Win six games in the 2019 season ($50,000).

• Receive $25,000 for each additional win after six victories in the 2019 season.

• Win seven games in a season from 2020-23 ($50,000).

• Receive $25,000 for each additional win in a season after seven victories from 2020-23.

• Be invited to a bowl game ($100,000).