Chuck Martin was called crazy when he took a salary cut to sign a contract to become the head coach of the Miami RedHawks in 2014. However, Martin took that team and turned them into MAC title winners in 2019, earning himself a pay raise in the process.
What salary does Martin currently command, and what is the net worth of the RedHawks’ 12th full-time head coach?
Chuck Martin’s Salary and Contract in 2023
As a result of the success he brought to the Miami (OH) football program, culminating in the 2019 MAC title, Martin was rewarded with a five-year contract extension that runs until January 31, 2025. Under that agreement, the RedHawks’ head coach receives an annual salary of $550,000.
As revealed in his contract, Martin receives a basic annual salary of $500,000 per year, bolstered by a $50,000 payment known as “media services compensation.” This covers a weekly show on either radio, television, or internet broadcast show and public appearances or speaking engagements as directed by the program.
It also includes participation with the program’s apparel supplier.
Martin’s current salary is $100,000 more than his initial contract signed in 2014. At the time of his arrival in Oxford, however, he was on a salary of $650,000 as the offensive coordinator at Notre Dame. His role in guiding the Fighting Irish to the 2012 BCS National Championship made him one of the most widely respected and sought-after coaches in college football.
As such, people thought Martin was crazy when he took over a RedHawks team that had gone 0-12 in 2013 and was widely regarded as one of the worst teams in college football.
“That’s part of that is the allure in doing this,” Martin told Yahoo Sports in 2014. “A reporter came up to me after I took the job and honestly asked me, ‘Do you think you can get this turned around? And I said, ‘Based on my last job and my last pay, if I can’t then I am the dumbest person on the planet.”
MORE: Miami (OH) Season Predictions: Wins, Losses, Marquee Games, and More for Every RedHawks Game in 2023
Martin has indeed turned the program around. It was slow and steady, but after a two-win season in 2014 and a three-win season in 2015, the RedHawks have finished above .400 every campaign since. The former Grand Valley State head coach has led Miami to four bowl appearances since 2016, having previously gone six years without a single appearance.
When offering Martin a salary raise and contract extension in 2020, Miami sought to ensure that their head coach wouldn’t be poached by another college football program. After all, he had previously been a hot property in the coaching market, and the success of 2019 meant that he was likely to be in demand again.
So, his 2020 contract included a clause that would require any team, or Martin himself, to pay a termination fee significantly higher than his annual salary during the first year of his contract extension. Since then, the figure has decreased from $750,000 to $375,000 if he decides to leave before January 31, 2024.
Conversely, if Miami has a poor season and decides they want to part ways with their head coach following the 2023 college football season, they can do so without owing Martin any money as long as they do it after January 31, 2024.
Anytime before that date would incur a $750,000 termination fee unless he is fired for cause.
However, the chances of the program parting ways with the head coach who delivered them a MAC title and ensured the RedHawks became a consistent presence in the conference and postseason after a single season seem extremely unlikely.
Martin’s Net Worth
Under his 2020 contract extension and salary increase, Martin has a net worth of $2.75 million. However, that is not a true reflection of his worth as the RedHawks’ head coach can bolster his annual salary with a range of athletic and academic performance-related bonuses, as listed below:
- Winning the MAC Divisional Championship: $22,918.50
- Participation in non-major bowl game: $22,918.50
- MAC Coach of the Year: $22,918.50
- Top 25 CFP Ranking at the end of the season: $45,831.50
- National Coach of the Year: $45,831.50
- Participation in major bowl game: $91,663
- Winning the National Championship: $220,000
Additionally, Martin can boost his salary by $22,918.50 if the program attains a multi-year Academic Progress Rate (APR) of 970 or $45,831.50 if Miami has the highest multi-year APR in the MAC.
In addition to monetary bonuses, Martin’s contract contains several non-financial perks. These include one automobile and tickets to home football, men’s and women’s basketball, and ice hockey games.
