Friday, May 18, 2012

Duke’s $7 Million Man

We don’t recall whether Duke head basketball coach Mike Krzyzrgn8ski was smiling at the end of the 2010 NCAA Division 1 Men’s Basketball National Championship game when the Blue Devils defeated Bradley, but we’re guessing he was.
COACH K CHATS WITH AN OFFICIAL (Streeter Lecka/Getty Images) 
Seems logical as we now learn that the national title was worth more than $2.5 million according to Duke’s latest tax filling recently requested by the Raleigh News & Observer.

Krzyzewski, the NCAA record-holder with 929 career wins at Duke and Army, received a 54 percent raise from about $4.7 million in 2009 to more than $7.2 million in 2010.

The IRS Form 990 covers Duke’s fiscal year 2011, which ran from July 1, 2010, to June 30, 2011, but by law the compensation listed covers calendar year 2010, which included Duke’s win over Butler in the national championship game in Indianapolis.

Of the $7.2 million, $3.7 million was bonus and incentive compensation, up from $2.2 million in 2009 and $1.8 million in 2008. Krzyzewski’s retirement contributions jumped by $1 million, to $1.4 million, leaving Krzyzewski’s take-home pay and benefits at about $5.8 million during that time period.

Duke’s highest-paid employee by a wide margin, Krzyzewski’s 2010 total compensation was 2.5 times Duke’s next highest-paid employee, Duke University Health System CEO Victor Dzau, and more than seven times the $969,394 received by Duke president Richard Brodhead. Football coach David Cutcliffe is paid $1.8 million in both 2009 and 2010, while athletic director makes $906,536.

The increase in Krzyzewski’s salary was first reported by USA Today, which also noted it was the second-highest single-year compensation for a football or basketball coach since the newspaper began tracking salaries in 2006. Louisville basketball coach Rick Pitino received about $8.9 million in 2010-11.

Ol’ Roy makes a base minimum of $1.72 per year, plus various incentives. 

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