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April 13, 2021
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IU’s Allen gets $1M annual raise in new deal

Indiana football coach Tom Allen has agreed to a new seven-year contract through the 2027 season that will pay him an average salary of $4.9 million per year, the school announced Monday.

Allen, who was signed through the 2026 season, had an additional year added to his contract after Indiana’s Gator Bowl appearance. His average annual salary had been $3.9 million but will climb by $1 million in the new agreement.

The increases come in Allen’s outside marketing and promotion income, which is added to $500,000 in annual salary and $500,000 in deferred compensation.

The 2020 Big Ten Coach of the Year and American Football Coaches Association national coach of the year will make $4.3 million in 2021. His salary will increase by $200,000 per year throughout the contract, topping out at $5.5 million. He will continue to receive an extra year on his contract for every future bowl appearance, at a salary of $100,000 more than the final year of the agreement.

Allen, 50, is 24-22 at Indiana with consecutive bowl appearances, a 14-7 record since 2019, and a No. 12 AP poll finish last season. He arrived as Indiana’s defensive coordinator in January 2016 and replaced Kevin Wilson as head coach on Dec. 1 of that year.

If Allen leaves Indiana for another job before Dec. 1, he would owe Indiana his full remaining compensation. His buyout then drops to 50% of his remaining compensation for the next year, and then decreases to $4 million, $3 million, $1 million and $500,000 in subsequent years.

Indiana would owe Allen all of his remaining compensation if it fires the coach without cause before Dec. 1, 2024. The school would owe Allen 50% of his remaining compensation in the final three years of the agreement, and 100% of his compensation for years tacked on in future contract extensions.

Allen is a native of New Castle, Indiana, and was a longtime high school coach in Florida and Indiana before entering the college ranks in 2007.

Click Here to Visit Orignal Source of Article https://www.espn.com/college-football/story/_/id/31026894/indiana-football-coach-tom-allen-gets-new-7-year-deal-1-million-annual-raise

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