Bibby, a former 14-year NBA veteran, is at the vanguard of school president Luke Woods’ ambitious plan to raise Sacramento State's athletic profile.
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Sacramento State will officially pay former NBA player Mike Bibby $521,004 per year, as part of a five-year contract the school and its new head men’s basketball coach finalized this week.
That figure is slightly higher than the $470,000 in annual compensation that was stipulated in the late March offer letter sent to Bibby by Sacramento State athletic director Mark Orr. A school spokesperson said the $51,000 increase owed to “negotiations after the initial offer.”
A half-a-million dollars equates to top-tier pay for a Big Sky Conference coach, but it ranks near the bottom of the compensation scale in the NCAA’s Football Bowl Subdivision (FBS)—a club Sacramento State has recently applied to join.
According to a copy of Bibby’s employment agreement, obtained by
Sportico, Bibby will receive $300,000 in base salary, $200,004 in supplement compensation and talent fees, and a $21,000 yearly retention bonus. In addition, he will be able to earn up to $335,000 in performance and academic bonuses. All this is relative chump change for a man who
earned more than $107 million during his 14-year NBA career.