BLOOMINGTON, Ind. — Indiana University Football has had nothing shy of a historic season — and head coach Curt Cignetti is already reaping the benefits.
This is Cignetti's first year coaching the Hoosiers. Their 10-1 start is the best in the university's history.
On Nov. 16, Indiana University and Cignetti agreed to terms on a new eight-year contract that will start on Dec. 1, 2024 and end on Nov. 30, 2032.
According to court documents obtained by 13News, the contract will have an average compensation of $8 million and an annual base salary of $500,000.
The contract includes a $1 million retention bonus, with the first payment being Nov. 30, 2025, with the same payment being made on each Nov. 30 Cignetti works as head coach for IU.
In his first year, he will earn $6.8 million in annual outside, marketing and promotional income. According to the contract, this amount will increase by $200,000 every year and become $8.2 million in his eighth year.
Big Ten wins, conference finishes
Cignetti's contract includes a $100,000 bonus for the 5th Big Ten Win or a $150,000 bonus for the 6th Big Ten Win. If the team is a top six finisher (6th or higher out of 18 teams), Cignetti will receive $250,000. If the team places second, he will receive $500,000. If the team wins the Big Ten Championship, he will receive $1 million.
It must be noted that the bonuses are not cumulative, and the highest finish or win total within each category will apply.
College Football Playoff
The contract says Cignetti has the potential for an annual bonus of $200,000 if IU makes a bowl appearance that isn't a part of the College Football Playoff (CFP) and an additional $50,000 if the team wins a bowl game.
For a CFP First Round Appearance, Cignetti will receive $500,000; for a CFP Quarterfinal Appearance, Cignetti will receive $600,000; for a CFP Semifinal Appearance, Cignetti will receive $700,000; for a CFP National Runner-Up, Cignetti will receive $1 million and for a CFP National Champions, Cignetti will receive $2 million.
These bonuses are also not cumulative, and the highest finish will apply.
Awards
Cignetti will earn $50,000 if he is named Big Ten Coach of the Year by either the Big Ten Conference Coaches or the Big Ten Media Panel. If he is named coach of the year by both, he still gets just the single $50,000 payment.
Cignetti will earn $100,000 if he is named National Coach of the Year by one of the following: the Associated Press, Paul "Bear" Bryant, Sports News, Walter Camp, Maxwell Football Club, or ABC/ESPN. If he's named coach of the year by more than one, he still gets just the single $100,000 payment.
Other perks Cignetti gets:
- Annual allowance of $10,000 to spend on Adidas products
- $25,000 per year courtesy car allowance
- Eight season football tickets and three parking passes for all home football games, along with 25 single game tickets for home football games. Four season basketball tickets and two season passes for men's basketball. Two season passes to all other home sporting events as well as credentials for football and men's basketball
- Unlimited use of the Pfau Golf Course and Driving Range, including green fees, cart fees and range balls
- Meals provided at the athletic dining facility
- Sole ownership of youth camps he chooses to operate, including retention of all net proceeds generated by those camps. He also has the opportunity to rent university athletics facilities in connection with camps after receiving prior written approval
Early separation
If Cignetti resigns or otherwise terminates his contract before it's up, he will owe a significant penalty to the school. The penalty gets smaller as the contract goes on, with the following table giving dates and how much Cignetti would owe if he resigned in that period:
- Dec. 1, 2024 and Nov. 30, 2025 - $13 million
- Dec. 1, 2025 and Nov. 30, 2026 - $10 million
- Dec. 1, 2026 and Nov. 30, 2027 - $9 million
- Dec. 1, 2027 and Nov. 30, 2028 - $8 million
- Dec. 1, 2028 and Nov. 30, 2029 - $6 million
- Dec. 1, 2029 and Nov 30, 2030 - $3 million
- Dec. 1, 2030 and Nov. 30, 2031 - $3 million
- Dec. 1, 2031 and Nov. 30, 2032 - $1 million
If IU terminates Cignetti without cause before the end of the contract, they will owe him 85% of the amount owed under his agreement through the normal expiration date. If IU appears in the Big Ten Conference Championship game or the College Football Playoff during the 2024 season, or at any point during the term, the percentage will automatically increase to 100% for the remainder of the term.
If IU terminates Cignetti or if he resigns for cause before the end of the contract, the university won't be liable for any compensation or benefits after the date of resignation or termination.
To see his contract click here or read below: