Breaking down Lance Leipold's contract extension with Kansas football

LAWRENCE — It’s official: Kansas head football coach Lance Leipold has signed a contract extension that will keep him with the Jayhawks through the 2029 season.

The deal comes as Leipold, who took over the program ahead of the 2021 season, has Kansas bowl eligible for the first time since 2008. There was speculation about him bolting for another job, but he'll remain in Lawrence. And in his contract, there's a commitment from the school to Leipold, his staff and their place among Big 12 Conference programs.

More:Kansas football coach Lance Leipold to be extended through 2029 season, per reports

“When we hired Lance Leipold 19 months ago, we were confident we had found the ideal fit for KU and that has been reinforced every single day since his arrival,” said Jayhawks athletic director Travis Goff in a release. “In short order, Lance and his family have engrained themselves in the Lawrence community and have made an impact that extends far beyond the football program, to the broader University and Lawrence communities. This new contract, along with the upcoming investment in our facilities, are a direct reflection of our profound commitment to building a first-class football program – one that will be a point of pride for all Jayhawks for years to come."

Leipold added: “I am very thankful for Chancellor (Douglas) Girod and Travis Goff and their commitment to this program and our entire staff. My wife Kelly and I couldn’t be more excited to know we are going to be staying in Lawrence for a very long time. We have said from the start how happy we are here, and that we plan on being here for a very long time. Since the moment we arrived, we have been welcomed and accepted by the Lawrence and KU communities, and we are very grateful. We are very proud of the progress the program has made over the last 18 months and even more excited about what the future holds as we continue to build a program that will make Jayhawk fans everywhere proud.”

Here’s what Kansas chancellor Douglas Girod had to say about the extension

“We are thrilled that Coach Leipold will be leading our football program for years to come. Since joining us in Lawrence, Coach Leipold has confirmed that he is among the nation’s best coaches, program builders and leaders, and he is clearly equipped to succeed in the new world of college athletics," Girod said. "Additionally, Coach Leipold has shown tremendous commitment to the university and the community beyond football, and he recognizes the special role his team can play in our academic mission, student recruitment and alumni engagement. For all these reasons, he is exactly the right fit for KU, and we look forward to seeing him in Crimson and Blue in the years ahead.”

Here’s how much money Lance Leipold will make each year

In base salary, Leipold will make $500,000 each year, but that’s only part of his compensation. He'll also receive a “professional services payment” that equals $4.5 million, and that will increase by $100,000 each year starting with the second year of the contract.

So, Leipold starts out at $5 million between the two areas and will make more as the contract years continue.

Here’s how much money is being allocated for assistant coaches, other staff

Kansas will have a pool of $5 million that is to be used for assistant coaches and the head strength coach. This pool will increase by $100,000 each year.

Kansas will have a pool of $2.5 million for football staff that excludes Leipold, his assistant coaches and the head strength coach. This pool will also increase by $100,000 each year.

Here’s a look at Kansas’ commitment to Lance Leipold, his staff and their place in the Big 12 Conference

In the “Assistant Coach and Staff Salary Pools” portion of the contract, there is an important note that is included.

Essentially what it says is that around April 1, 2025, Leipold and the KU brass will meet again to evaluate the coach's compensation and assistant coach salary pool to be sure they sit in the top half of the Big 12. If it doesn't, Leipold's salary and that of his staff salary pool will be increased to be inside the league's top half. Though if any schools have already announced their intention to leave the Big 12 by that date, then they won't be included in those calculations.

These adjustments will be made in addition to other scheduled increases already set forth in the contract for the third year of the deal.

Here are the incentives Lance Leipold could earn

There are a number of accomplishments that would lead to incentives for Leipold. They are cumulative and don’t affect his base salary or other avenues of payment. Leipold will also receive a one-time signing bonus of $750,000.

Bowl bonuses:

• National championship game participant — $500,000.

• College Football Playoff semifinal participant — $350,000.

• College Football Playoff quarterfinal participant — $250,000.

• College Football Playoff first round participant (once playoff is expanded) — $200,000.

• Non-College Football Playoff New Year’s 6 game participant — $150,000.

• Other bowl game participant — $100,000.

Big 12 bonuses:

• Big 12 championship game participant — $150,000.

• Big 12 coach of the year — $50,000.

Other bonuses:

• Starting with the 2023-24 season, winning seven or more regular season games — $50,000.

• Finishing top 25 in one or more national polls (USA Today/AP/ESPN/Coaches’/CFP Poll) — $50,000.

• National coach of the year, maximum of one (AP, USA Today, Sporting News, Home Depot, AFCA) — $100,000.

• Single-year Academic Progress Rate (APR) equal to or greater than 970 — $75,000.

Here’s what Kansas owes Lance Leipold if it chooses to terminate his contract without cause

If this happens, the contract states that “all monetary amounts due and owing under this Agreement up to the date of termination, shall be liable to Head Coach for a Liquidated Damages payment equal to 80% of the remaining base salary, professional services, and royalty payments.”

This would be paid out monthly either over the course of 12 months or the remainder of the agreement, depending on which is shorter. And it would be offset and reduced monthly depending on if Leipold earns compensation through work elsewhere in college football or professionally in the NFL, with an agreement Leipold attempts to find employment at fair market value as soon as he can.

Here’s what Lance Leipold owes if he chooses to terminate the contract early

Here’s the timeline of compensation that Leipold would owe if he leaves before the end of the new contract:

• On or before April 30, 2023 — $12.5 million.

• On or before April 30, 2024 — $6 million.

• On or before April 30, 2025 — $5 million.

• On or before April 30, 2026 — $4 million.

• On or before April 30, 2027 — $3 million.

• On or before April 30, 2028 — $2 million.

• On or after May 1, 2028 — $1 million.

The payment would be due within 60 days of the termination, resignation or agreement between parties.

If renovations aren’t underway at certain points, Lance Leipold can terminate the deal

Kansas has to have made meaningful and substantial progress toward its renovations of the Anderson Family Football Complex by July 1, 2023. Kansas has to have done the same toward adding square footage to the complex or stadium renovations by Dec. 15, 2023. If not, Leipold can terminate the agreement without having to be responsible for any release payments.

Jordan Guskey covers University of Kansas Athletics at The Topeka Capital-Journal. Contact him at jmguskey@gannett.com or on Twitter at @JordanGuskey.

This article originally appeared on Topeka Capital-Journal: Coach Lance Leipold signs Kansas football contract extension