When Ole Miss athletics director Ross Bjork left Oxford for Texas A&M earlier this year, he left behind one of the most coach-friendly contracts in college football.
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In late November 2017, five months after taking over for Hugh Freeze and a few days after leading Ole Miss to a win over Mississippi State to cap a six-win season, Matt Luke was named permanent head coach and agreed to a four-year, $12.6-million contract.
Luke, a Mississippi native and former Ole Miss offensive lineman (and longtime assistant coach), received a starting salary of $3 million for 2018, which increases by $100,000 in each of the four years:
2018: $3 million
2019: $3.1 million
2020: $3.2 million
2021: $3.3 million
He is eligible for several bonuses, including $150,000 per non-conference Power Five win, which he collected in his first game as permanent head coach, a win over Texas Tech in Week 1 of the 2018 season. Among the other bonuses:
SEC win starting in 2020: $150,000
SEC Championship appearance: $150,000
SEC Championship: $400,000
College Football Playoff appearance: $500,000
National championship: $1 million
If Ole Miss fires Matt Luke prior to the contract's expiration on Dec. 31, 2021, they owe him the full remaining balance. For example, for simplicity's sake, if he's fired on Jan. 1, 2020, he is owed $6.5 million ($3.2 million for 2020 plus $3.3 million for 2021). If fired on Jan. 1, 2021, he's owed $3.3 million.
