{"id":1513,"date":"2023-03-29T22:11:33","date_gmt":"2023-03-30T03:11:33","guid":{"rendered":"https:\/\/demo.wztzfm.com\/wp\/?p=1513"},"modified":"2023-03-29T22:11:33","modified_gmt":"2023-03-30T03:11:33","slug":"contract-details-released-for-mike-rhoades-at-penn-state","status":"publish","type":"post","link":"https:\/\/demo.wztzfm.com\/wp\/contract-details-released-for-mike-rhoades-at-penn-state\/","title":{"rendered":"Contract details released for Mike Rhoades at Penn State"},"content":{"rendered":"

Penn State<\/a><\/strong> made it official Wednesday when it announced VCU<\/strong> coach Mike Rhoades<\/strong> as its new men\u2019s basketball coach. The university has also released the details<\/strong><\/a> of his contract.<\/p>\n

Rhoades signed a seven-year contract worth $3.4 million per year to start, according to the university. Each year, he\u2019ll receive a $100,000 raise, taking him up to $4 million per year by the final year of the deal.<\/p>\n

In addition, Rhoades\u2019 buyout is $15 million for his first year and will drop by $3 million each year. After the fifth season \u2014 in which the buyout is $3 million \u2014 it will decrease to $1.5 million before becoming $0 after the contract runs out in 2030.<\/p>\n

As far as incentives go, Rhoades could make up to $1.075 million in bonus. That includes $150,000 if he leads Penn State to at least a share of the Big Ten championship and $50,000 if he wins Big Ten Coach of the Year. In addition, an NCAA Tournament appearance would earn him $100,000 and he\u2019d secure $75,000 for each win in the big dance.<\/p>\n

Rhoades led VCU to an A-10 championship this year and a March Madness appearance after winning the conference tournament. The Rams finished the season 27-8 overall and 15-3 record in conference play before their season came to an end against Saint Mary\u2019s<\/strong> in the NCAA Tournament.<\/p>\n

Now, he\u2019s gearing up to take over for Micah Shrewsberry<\/strong>, who left to become the new head coach<\/a><\/strong> at Notre Dame<\/a><\/strong>. Shrewsberry just wrapped up his second season with Penn State and turned the Nittany Lions around in a big way, leading them to a 23-14 overall record and a 10-10 mark in Big Ten play to reach the NCAA Tournament for the first time since 2011. Their season came to an end in the second round against Texas<\/a><\/strong>.<\/p>\n

After news of his hire became official, Rhoades released a statement<\/a><\/strong> about the decision.<\/p>\n

\u201cIt\u2019s with great honor and excitement to be Penn State\u2019s Peter and Ann Tombros endowed men\u2019s basketball head coach,\u201d Rhoades said<\/a>. \u201cI would like to thank Dr. Bendapudi, Pat Kraft, and Michael Wade Smith for their faith in me and the opportunity to lead this great program. We will be bold, different, and aggressive moving our program forward. We will play with great energy and excitement while always being relentless in our pursuit of making this basketball family into something special. I can\u2019t wait to get to work.\u201d<\/p>\n

The post Contract details released for Mike Rhoades at Penn State<\/a> appeared first on On3<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"

Penn State made it official Wednesday when it announced VCU coach Mike Rhoades as its…<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"ngg_post_thumbnail":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/demo.wztzfm.com\/wp\/wp-json\/wp\/v2\/posts\/1513","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/demo.wztzfm.com\/wp\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/demo.wztzfm.com\/wp\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/demo.wztzfm.com\/wp\/wp-json\/wp\/v2\/comments?post=1513"}],"version-history":[{"count":0,"href":"https:\/\/demo.wztzfm.com\/wp\/wp-json\/wp\/v2\/posts\/1513\/revisions"}],"wp:attachment":[{"href":"https:\/\/demo.wztzfm.com\/wp\/wp-json\/wp\/v2\/media?parent=1513"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/demo.wztzfm.com\/wp\/wp-json\/wp\/v2\/categories?post=1513"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/demo.wztzfm.com\/wp\/wp-json\/wp\/v2\/tags?post=1513"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}