The Ohio State Board of Trustees approved a contract extension for football coach Ryan Day on Thursday in Columbus.
Per a copy of the amendment obtained by the Dayton Daily News via an open records request, it contains a buyout of $3.5 million if Day leaves before Jan. 31, 2021.
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He would also owe the school “damages” defined as the aggregate amount Ohio State is obligated to and does pay to all assistant coaches who are terminated without cause as a result of Day leaving.
That includes not only the 10 full-time, on-field assistants but also key staffers Mark Pantoni, Mickey Marotti and Brian Voltolini.
The amount of the buyout goes down $500,000 per year and would be $500,000 if Day leaves between Feb. 1, 2026 and Jan. 31, 2027.
Ohio State previously announced Day would receive a raise and have years added to his contract originally signed a year ago after he agreed to replace Urban Meyer as head coach of the Buckeyes.
Day is set to make $5.375 million over the 12 months beginning Feb. 1.
The following year, he will be paid $6.5 million, and his 2022 compensation will be $7.6 million.
Day is not eligible for another raise until 2023, and that will be determined by Ohio State’s director of athletics and approved by the board of trustees.
According to USA Today’s database of college football coach salaries, Clemson’s Dabo Swinney was the highest-paid in the country last season with total compensation of $9.3 million. Nick Saban made $8.85 million at Alabama while Jim Harbaugh was paid $7.504 million at Michigan and Texas A&M paid Jimbo Fisher $7.5 million.
Day came to Ohio State as quarterbacks coach and co-offensive coordinator in 2017 and received a $400,000 annual salary.
A year later, he received a new three-year contract worth $1 million annually after reportedly turning down other job opportunities, reportedly including an offer to be the offensive coordinator for the Tennessee Titans.
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