Florida coach Billy Donovan will receive a significant financial reward for guiding the Gators to just their third outright SEC title in school history.
Donovan earned a $50,000 bonus for leading the Gators to the 2011 SEC title, per terms of the six-year contract extension he signed in 2007.
There are more bonuses that Donovan could attain in the near future. Donovan would receive $25,000 if he’s named AP (writers) SEC coach of the year (the coaches’ award will be named Tuesday, the AP award will be released next week). If Florida wins the SEC Tournament, Donovan would earn another $25,000.
Donovan will get a $37,500 bonus next week for leading the Gators to the NCAA Tournament. He’ll get another $37,500 if the Gators reach at least the Sweet 16. If the Gators get to the Final Four, Donovan’s previous NCAA Tournament bonus of $75,000 would increase to $100,000. On top of that, Donovan could receive a $150,000 bonus if he leads the Gators to a national title.
Here’s another incentive for Donovan to coach the Gators to an SEC Tournament title. With that win, Florida would likely finish the season with an AP Top 10 ranking. That would result in another $50,000 bonus.
Donovan also has a $50,000 bonus in his contract if he’s named AP national coach of the year.
Donovan, 45, is in the fourth year of a six-year extension that pays an average annual salary of $3.5 million. The contract expires in April of 2013.