Following the Kansas Jayhawks’ most successful college football campaign since 2008, head coach Lance Leipold was rewarded with a salary increase and contract extension. Viewed as a considerable investment in the future of a program routinely rooted to the bottom of the Big 12, Leipold’s salary, contract, and net worth speak volumes about his value.
Lance Leipold’s Salary and Contract in 2023
After signing an extension to his contract in Nov. 2022 that could keep him in Lawrence through the 2029 college football season, Leipold is set to make a $5 million salary for the 2023 campaign. It’s a substantial raise of over $2.5 million on what the Kansas head coach was scheduled to make for the upcoming college football campaign.
In addition to the salary increase, Leipold also received a $750,000 signing bonus. As part of the new contract, he’ll receive a $100,000 raise each year. While that replaces the previous $200,000 per season incremental increase woven into his original contract, the Kansas coach will still be significantly better recompensed for his services than before.
“When we hired Lance Leipold 19 months ago, we were confident we had found the ideal fit for KU, and that has been reinforced every single day since his arrival,” Kansas athletic director Travis Goff said on announcing Leipold’s contract extension and salary increase.
After leading the Jayhawks to a 2-10 record in his debut season in Lawrence, Leipold took Kansas to new heights during the 2022 campaign. The program took college football by storm, racing out to a 5-0 record before injuries halted their momentum.
Nonetheless, the program ranked in the AP Top 25 for the first time since 2009, qualified for a bowl game for the first time since 2008, and secured their best Big 12 record since 2008. The on-field success combined with off-field culture building under Leipold saw the former Buffalo HC earn his payday. Don’t expect him to rest on his laurels, however.
“We are very proud of the progress the program has made over the last 18 months,” Leipold told the media upon signing his contract extension, “and even more excited about what the future holds as we continue to build a program that will make Jayhawk fans everywhere proud.”
While there is a commitment to provide continued success for Kansas from both sides, there are also some clauses included in the contract that covers any eventuality where Leipold is no longer the head coach of the Jayhawks.
If Leipold leaves for another role, his buyout prior to Apr. 30, 2023, is a substantial $12.5 million. It goes down to $6 million in 2024, reducing by $1 million each subsequent season. Interestingly, if athletic director Goff is no longer with the program, Leipold can terminate his contract with a significantly reduced buyout.
Leipold’s Net Worth
Leipold’s original contract with the Jayhawks gave him a net worth of $16.5 million over the initial six-year period. His salary increase under the terms of his new deal will blow that out of the water in a little over three years.
If he remains in Lawrence through 2029, Leipold’s salary alone will give him a net worth of $31.8 million.
Yet, that doesn’t take into account the signing bonus of $750,000 that he received upon completion of his contract extension. Furthermore, it doesn’t include the financial incentives for future college football success — of which there are several possible permutations for the Kansas head coach, as detailed below.
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- Reaching the College Football National Championship Game: $500,000
- Appearing in the College Football Playoff semifinals: $350,000
- Playing in a New Year’s Six bowl game: $150,000
- Playing in a non-New Year’s Six bowl game: $100,000
- Playing in the Big 12 Championship Game: $150,000
- Winning seven regular-season games: $50,000
- Winning National Coach of the Year: $100,000
- Winning Big 12 Coach of the Year: $75,000
Additionally, there is a bonus structure within Leipold’s contract linked to the new College Football Playoff format that will come into effect for the 2024 season. The Kansas head coach would make $200,000 for appearing in the first round, and $250,000 for an appearance in the quarterfinals.
Academic success can net Leipold an additional $75,000. Meanwhile, his contract includes a $125,000 allowance for private air travel. Other benefits without a declared value include two cars, tickets to football and basketball games, and memberships to both the Jayhawk Club and Lawrence Country Club.