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-12-21-2004 #1DJRamFan Guest
Louisville's Petrino to make $1M a year in redone contract
Dec. 21, 2004
SportsLine.com wire reports
LOUISVILLE, Ky. -- Louisville coach Bobby Petrino signed a new contract Tuesday that will pay him $1 million a year and a $100,000 bonus if the Cardinals win the national championship.
The 43-year-old Petrino was making $550,000 a year under his old contract. The new deal adds a $50,000 bonus if the Cardinals reach the Bowl Championship Series title game and another $50,000 if they win it.
Louisville will join the Big East next season. The Cardinals were not eligible to automatically qualify for the BCS as members of Conference USA.
"That's what our goal is," Petrino said of the BCS. "It's certainly something that's out there for us and something we're committed to getting done."
The No. 7 Cardinals went 10-1 this season, earned the highest ranking in school history and led the nation in points and yards per game. Petrino has been mentioned as a candidate for several major coaching jobs in the past month, but assured members of Louisville's athletics association board Tuesday morning that he was never going anywhere.
The new contract, like the old one, runs through the 2010 season. Petrino will earn a $1 million bonus if he stays through the 2007 season.
"I'm looking forward to the upcoming years," he said. "This is the place I want to be, this is the place my family wants to be. We're looking forward to the future."
Louisville athletic director Tom Jurich still expects Petrino's name to come up when higher-profile jobs open.
"There are certainly schools out there that have more money than us," Jurich said. "But we're going to do everything in our power to keep everything stabilized here."
The Cardinals play No. 10 Boise State (11-0) in the Liberty Bowl on Dec. 31.
The Associated Press News Service
Copyright 2004, The Associated Press, All Rights Reserved
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