Basketball's storied season earns Davis a sizable six-year contract

Last Thursday, men's basketball coach Mike Davis etched his John Hancock on a six-year contract, worth $800,000 a year. Dwarfing last year's contract, the deal, co-signed by Director of Athletics Michael McNeely and President Myles Brand, puts a premium on keeping the Cinderella coach in Bloomington.\n"It is an honor to know that I will be the head coach at Indiana University for the next six seasons," Davis said in a press release following the signing.\nThe deal -- which is still subject to minor tweaking -- caps a runner-up finish in the NCAA tournament after IU failed to make it past the first round of the tournament in the previous six years.\n"We appreciate the hard work and dedication Mike and his staff have demonstrated in preserving the proud tradition of Indiana basketball," McNeely said in a public statement. "This past season is a great story, about a group of student-athletes who believed in each other and played well together."\nThe belt-buckle-notching narrative was enough to earn Davis the fourth-best salary in the Big Ten -- making him a young addition to the elite group. \nBroken down, the deal consists of $800,000 in guaranteed annual income -- $225,000 in base pay, $25,000 in deferred compensation and at least $550,000 in outside promotional and marketing pay.\nIt also offers the possibility of an additional $137,500 in annual incentive income, based on team performance and grades. For instance, if Davis leads the Hoosiers to an outright Big Ten Championship next year, he will receive an additional $25,000. If he does so and the Hoosiers' team Grade Point Average eclipses 2.3 (a mark that might seem automatic against IU's average student GPA of 3.01) he will receive double that.\nThe same format applies for other incentives, including a $5,000-$10,000 package based on making it to the Sweet Sixteen and having a team G.P.A. of 2.3 or higher. An independent academic bonus of $25,000 will also be awarded to Davis if the team GPA exceeds 3.3.\nAdditionally, Davis will receive another $300,000 just for honoring the contract until July 1, 2005.\nAll this may be disconcerting for the masses who aren't used to so many zeros in their weekly pay stubs, but where there is money, many say, there are worthy recipients.\n"It is a lot of money, but he's got a really hard job," senior Roselyn Wang said. "He's got to deal with a lot of pressure."\nWang, like many others, got especially wrapped up in IU basketball around March of this year, as the Hoosiers started to gain steam and collect upsets. \nSeason ticket holder and 2002 graduate Joanna Lin Want, said she was just glad that IU made its run before she graduated and felt Davis was deserving of the new contract.\n"I think that within the range of salaries coaches are making. It's appropriate," Want said.\nFinal details are still being worked out with the deal, as Davis came back to the bargaining table last weekend to discuss a few sections of the contract. There was no word about the specifics of this dialogue, except Davis was mildly concerned about the terms of some incentive packages, says athletics department Director of Media Relations Jeff Fanter. Davis told The Indianapolis Star the deal he signed was not the deal he agreed to.\nFanter said no major changes were expected, but it is possible that a short addendum could be added to the contract Davis signed last week. For complete coverage of Davis' contract situation, check www.idsnews.com and Monday's edition of the IDS.