Current:Home > InvestOregon's Dan Lanning, Indiana's Curt Cignetti pocket big bonuses after Week 11 wins -Wealth Evolution Experts
Oregon's Dan Lanning, Indiana's Curt Cignetti pocket big bonuses after Week 11 wins
Charles H. Sloan View
Date:2025-04-06 15:35:46
The Oregon and Indiana football teams reached 10 wins for the season Saturday, and their head coaches are going to be rewarded handsomely.
The Ducks’ Dan Lanning achieved a goal in his agreement with the school that gives him an automatic one-year contract extension if the team wins at least 10 regular season games. The added year is currently scheduled to be worth $9.4 million — all guaranteed.
The Hoosiers’ Curt Cignetti added a $250,000 bonus, as his team became assured of hitting one of the more incentive targets in a Bowl Subdivision contract: finishing the regular season among the top six in the 18-team Big Ten Conference.
Indiana’s minimum final position in the standings was cemented before it took the field for its late-afternoon game against Michigan. On Friday night, Iowa lost to UCLA. And in an early game Saturday, Minnesota lost to Rutgers. That left 14 Big Ten teams with at least three conference losses — the number that Indiana would have had if it lost its three remaining games, beginning with its matchup against the Wolverines.
But even that worst-case scenario became moot when the Hoosiers defeated Michigan, 20-15, to clinch their first 10-win season in program history. Now, they can finish Big Ten play no worse than fourth place, outright.
UP AND DOWN: Georgia's loss leads Week 11 winners and losers
BIG TEN DEBUT:Celebrate the Ducks' season with a commemorative book
Cignetti now has $600,000 in bonuses, to go with the automatic one-year contract extension and $250,000 raise, beginning next season, that he got when Indiana became eligible for a bowl game with its sixth win. At present, the added season is scheduled to be worth $5.1 million with at least $3.3 million guaranteed.
If the Hoosiers keep winning, he could pick up another $2.7 million in bonuses. The next step would be $250,000 more if the team finishes second in the Big Ten.
Lanning’s incentive-clinching was more straightforward.
This is the second consecutive season in which he has added a year to his contract, which calls for a $200,000 pay increase annually. Under the agreement, he can get this automatic extension three times.
He and Oregon are now set to be together through Jan. 31, 2031. If the school fired him without cause, it would owe him all of the pay remaining under the deal (currently about $55 million). If Lanning decides to terminate the agreement between now and the scheduled expiration date, he would owe the school $20 million.
Lanning would get a $250,000 bonus if the Ducks reach 11 regular-season wins and $250,000 more if they reach 12. He has additional amounts available for playing in, and winning, the Big Ten championship game and/or the College Football Playoff. He also can get a bonus based on team academics.
veryGood! (33899)
Related
- Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
- Hottest year ever, what can be done? Plenty: more renewables and nuclear, less methane and meat
- Kimmel says he’d accept an apology from Aaron Rodgers but doesn’t expect one
- 'The Mandalorian' is coming to theaters: What we know about new 'Star Wars' movie
- California DMV apologizes for license plate that some say mocks Oct. 7 attack on Israel
- After soft launch challenges, FAFSA 2024-25 form is now available 24/7, Dept of Ed says
- A new wave of violence sweeps across Ecuador after a gang leader’s apparent escape from prison
- United, Alaska Airlines find loose hardware on door plugs on several Boeing 737 Max 9 planes
- How to watch the 'Blue Bloods' Season 14 finale: Final episode premiere date, cast
- NFL wild-card weekend injuries: Steelers star T.J. Watt out vs. Bills with knee injury
Ranking
- Travis Hunter, the 2
- Kremlin foe Navalny says he’s been put in a punishment cell in an Arctic prison colony
- Michael Penix Jr. overcame injury history, but not Michigan's defense, in CFP title game
- Microsoft’s OpenAI investment could trigger EU merger review
- South Korean president's party divided over defiant martial law speech
- Trump suggests unauthorized migrants will vote. The idea stirs his base, but ignores reality
- Firefighters investigate cause of suspected gas explosion at historic Texas hotel that injured 21
- Margot Robbie wears pink Golden Globes dress inspired by Barbie Signature 1977 Superstar doll
Recommendation
House passes bill to add 66 new federal judgeships, but prospects murky after Biden veto threat
The best TV of early 2024: Here's what to watch in January
Hezbollah launches drone strike on base in northern Israel. Israel’s military says there’s no damage
'The sweetest child': Tyre Nichols remembered a year after fatal police beating
Juan Soto to be introduced by Mets at Citi Field after striking record $765 million, 15
'The sweetest child': Tyre Nichols remembered a year after fatal police beating
Colts owner Jim Irsay being treated for severe respiratory illness
Michigan's Jim Harbaugh has a title, seat at the 'big person's table.' So is this goodbye?