The University of Toledo and football coach Matt Campbell have agreed to a one-year contract extension that will run through the 2017 season, the university announced Wednesday.
Campbell’s previous deal was set to expire in December, 2016. His annual salary will increase by $60,000, bringing his 2013 pay to $430,000. Campbell will make $470,000 in the final year of the contract.
Other amendments to his deal include buyout and bonus pay. If Campbell leaves for another job in 2013 or 2014 he is required to pay Toledo $330,000 — an increase of $30,000 from the penalty spelled out on his initial contract. Buyouts for all other years remain the same.
Campbell will make an additional $25,000 if Toledo’s grade-point average is 3.0 or higher. He can earn that incentive only once per year. His previous deal did not include discussion of GPA achievement, and therefore, he did not collect a bonus when his team posted a 3.0 last spring. Left unamended is a $25,000 bonus for a score of 925 or higher for Academic Progress Rate.
Added to the new deal are bonuses for Campbell being named regional coach of the year ($30,000) and national coach of the year ($40,000).
Campbell signed the deal Oct. 23. In his second full season with the Rockets, he has a 15-7 record. Toledo is 5-3 (3-1) this year.
In the past six-plus months four key UT athletics leaders received contract extensions: Campbell, basketball coaches Tricia Cullop and Tod Kowalczyk, and athletic director Mike O’Brien.
“I’m grateful for the support of President Lloyd Jacobs, Mike O’Brien, and the entire UT administrative staff,” Campbell said in a statement. “I’m honored to be the head football coach at this great university. Most of all I would like to thank our players, assistant coaches and football support staff. Their effort and enthusiasm help make our program a point of pride for the University of Toledo and the Toledo community.”