Randy Bennett’s ASU contract includes details on private jet use, staff salary, buyouts

The Arizona Board of Regents unanimously approved the contract proposed by Arizona State for new men’s basketball coach Randy Bennett on Thursday, with details around that contract now clear.

Bennett’s salary, which begins at $3.5 million with $100,000 annual escalations, will be covered by revenue generated by Sun Devil Athletics.

There’s $1.5 million to be paid in retention bonuses, coming in $750,000 installments at the end of his third and fifth seasons. The five-year contract ends on March 31, 2031.

There are standard performance bonuses written in for conference championship participation, NCAA Tournament success and coach of the year honors. Academic bonuses are in place for cumulative team GPA, graduation success rate and enrollment in Barrett, the Honors College.

Additional benefits written into the contract include:

• “Reasonable number of private jet hours … during key recruiting months” for Bennett and his staff
• Golf privileges at ASU’s course, as well as reimbursement of charges around access to a country club
• Tickets to other ASU sporting events, transportation for his family to all of his games and “use of two late-model vehicles or an automobile stipend”

He has $2.3 million in staff salary money, which has allowed him to install Rick Croy, David Patrick and Joe Rahon as associate head coaches. All three coaches previously worked under Bennett at Saint Mary’s.

An annual review will allow that number to be increased to match competitive levels in the Big 12, and it will never be lower than the initial $2.3 million.

Details around potential buyouts in Randy Bennett’s ASU contract

If Bennett is fired without cause, ASU will owe 100% of his remaining annual salaries. If he takes another Division 1 head-coaching job before the years remaining are up, the number owed is cut in half.

If he were to take another job of his own accord, his buyout will be structured as follows:

• $8 million on or before March 31, 2027
• $5 million between April 1, 2027 and March 31, 2028
• $3 million between April 1, 2028 and March 31, 2029
• $2 million between April 1, 2029 and March 31, 2030
• Nothing thereafter

Bennett is not permitted to take another Big 12 job during the duration of the contract without the consent of ASU president Michael Crow.

As a safeguard against potential rule breaking, Bennett would have to forfeit any potential performance-related bonuses if any sanctions are levied.

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