May 17th, 2019 | by CollegeAD

Purdue basketball coach Matt Painter will receive a bonus of $94,896 for reaching the Elite Eight, by mutual agreement of President Mitch Daniels and athletic director Mike Bobinski, according to the athletic department. The bonus equals 10% of the bonus pool of $948,963 called for in Painter’s contract. The contract language gave Daniels, in consultation with Bobinski, the discretion of exceeding that percentage. All bonuses were to be paid out within 45 days of the end of the season. That decision brings Painter’s total bonuses for the 2018-19 season thus far to $450,756, and his total compensation to $2,929,551. That figure also includes base pay, supplemental stipend and monthly supplemental retirement contributions. Other bonuses already achieved include: Big Ten championship (10%): $94,896. NCAA Tournament qualification/invitation (2.5%) and first (2.5 %), second (2.5 %) and third (5%) victories: $118,620. Elite Eight appearance (10%): $94,896. Big Ten Coach of the Year (10%): $47,448. National Coach of the Year (10%): $94,896. Per the contract, Painter could also receive additional bonuses later this summer tied into the program’s academic performance. – Nathan Baird, jconline – Read More

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