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TUSCALOOSA, Ala. -- University of Alabama Athletics Director Mal Moore announced Wednesday that the Alabama Board of Trustees Compensation Committee has approved a contract extension for Tide head football coach Mike Shula that would pay him $1.55 million annually and extend the length of his contract through January 31, 2012. He will also receive a one-time signing bonus of $200,000.
The University of Alabama Board of Trustees Compensation Committee unanimously approved the new contract on Wednesday. This new agreement moves Shula's compensation into the upper third of football coaches within the Southeastern Conference.
"We are certainly happy to know that Mike Shula will be our coach for many years to come," Moore said. "As he begins his fourth season at the Capstone, Mike has brought stability and continuity to a program that needed it and has returned a sense of pride and accomplishment to everyone involved with the Alabama football program.
"He has not only produced on the playing field, but his student-athletes have also gotten the job done in the classroom," Moore continued. "Since his arrival in 2003, the football team's graduation rate has seen steady improvement and now stands at 67 percent. A total of 25 football players who participated in Alabama's most recent bowl games had already earned their degrees."
Shula's new contract reflects an increase from $150,000 to $200,000 in his base salary and a jump from $750,000 to $1.35 million in talent fees. A deferred compensation plan of $200,000 per year for the six year contract period has also been added, money that would be paid at the conclusion of the contract.
"I am very excited to be at The University of Alabama," Shula said. "I'm excited about our future at Alabama and I love The University. This is a great place to live and work. With our new facilities and support areas, our future is very bright. Coach Moore has done an outstanding job of pulling it all together."
The 40-year-old Shula has posted a 20-17 overall record at Alabama, going 4-9 in 2003; 6-6 in 2004 and 10-2 in 2005. He has taken the Tide to back-to-back bowl games, winning the 2006 AT&T Cotton Bowl Classic, 13-10 over Texas Tech. The Crimson Tide finished the 2005 season ranked No. 8 in the final polls.
The University of Alabama Board of Trustees Compensation Committee unanimously approved the new contract on Wednesday. This new agreement moves Shula's compensation into the upper third of football coaches within the Southeastern Conference.
"We are certainly happy to know that Mike Shula will be our coach for many years to come," Moore said. "As he begins his fourth season at the Capstone, Mike has brought stability and continuity to a program that needed it and has returned a sense of pride and accomplishment to everyone involved with the Alabama football program.
"He has not only produced on the playing field, but his student-athletes have also gotten the job done in the classroom," Moore continued. "Since his arrival in 2003, the football team's graduation rate has seen steady improvement and now stands at 67 percent. A total of 25 football players who participated in Alabama's most recent bowl games had already earned their degrees."
Shula's new contract reflects an increase from $150,000 to $200,000 in his base salary and a jump from $750,000 to $1.35 million in talent fees. A deferred compensation plan of $200,000 per year for the six year contract period has also been added, money that would be paid at the conclusion of the contract.
"I am very excited to be at The University of Alabama," Shula said. "I'm excited about our future at Alabama and I love The University. This is a great place to live and work. With our new facilities and support areas, our future is very bright. Coach Moore has done an outstanding job of pulling it all together."
The 40-year-old Shula has posted a 20-17 overall record at Alabama, going 4-9 in 2003; 6-6 in 2004 and 10-2 in 2005. He has taken the Tide to back-to-back bowl games, winning the 2006 AT&T Cotton Bowl Classic, 13-10 over Texas Tech. The Crimson Tide finished the 2005 season ranked No. 8 in the final polls.
