Current:Home > InvestOregon's Dan Lanning, Indiana's Curt Cignetti pocket big bonuses after Week 11 wins -Wealth Navigators Hub
Oregon's Dan Lanning, Indiana's Curt Cignetti pocket big bonuses after Week 11 wins
View
Date:2025-04-13 18:21:55
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! (534)
Related
- Meet first time Grammy nominee Charley Crockett
- This week’s storm damaged the lighthouse on Maine’s state quarter. Caretakers say they can rebuild
- This week on Sunday Morning (January 14)
- Patriots coach candidates: Mike Vrabel, Jerod Mayo lead options to replace Bill Belichick
- Finally, good retirement news! Southwest pilots' plan is a bright spot, experts say
- Scientists explain why the record-shattering 2023 heat has them on edge. Warming may be worsening
- Kim Kardashian’s SKIMS Winter Sale Has Major Markdowns on Top-Selling Loungewear, Shapewear, and More
- Mel Tucker appeal of sexual harassment case denied, ending Michigan State investigation
- 'As foretold in the prophecy': Elon Musk and internet react as Tesla stock hits $420 all
- Stacked bodies and maggots discovered at neglected Colorado funeral home, FBI agent says
Ranking
- The Louvre will be renovated and the 'Mona Lisa' will have her own room
- 1 man believed dead, 2 others found alive after Idaho avalanche, authorities say
- Reggie Wells, Oprah's longtime makeup artist and Daytime Emmy winner, dies at 76
- Mayor says Texas closed park without permission in border city where migrant crossings had climbed
- Whoopi Goldberg is delightfully vile as Miss Hannigan in ‘Annie’ stage return
- 'Change doesn’t happen with the same voices': All-female St. Paul city council makes history
- The Patriots don’t just need a new coach. They need a quarterback and talent to put around him
- The war in Gaza has taken an economic toll on tech, Israel's most productive sector
Recommendation
DoorDash steps up driver ID checks after traffic safety complaints
Bill Belichick couldn't win without Tom Brady, leaving one glaring blemish on his greatness
Israel seeks dismissal of South Africa's case at U.N. court alleging genocide against Palestinians in Gaza
Nearly 10,000 COVID deaths reported last month as JN.1 variant spread at holiday gatherings, WHO says
Bodycam footage shows high
Ex-manager for West Virginia disaster recovery group sentenced to more than 3 years for theft
FAA says it is investigating Boeing over Alaska Airlines' mid-air blowout
Texas Department of Public Safety helicopter crashes near Mexican border with minor injury reported