Ohio State Buckeyes head coach Ryan Day treads a fine line between success and failure. On one hand, he boasts an overall coaching record that would be the envy of most in his field. At the same time, his record against the Michigan Wolverines is a copybook blot that leads to regular calls for his dismissal.
As such, Day’s salary, contract, and net worth are as popular a topic of college football discourse as any you’ll find.
Ryan Day’s Salary and Contract in 2024
Day is in the midst of a seven-year deal to be the Buckeyes head coach, which includes a two-year contract extension announced in May 2022. That ties him to Columbus through the 2028 college football season and makes him one of the highest-paid coaches in the sport. In 2024, Day’s salary is $10,210,650.
Like the man himself, Day’s salary situation with Ohio State is somewhat complicated. He earns a base salary of $2 million per year. However, that income is bolstered by $5.69 million for media, promotions, and public relations services. That amount is subject to change every year under the terms of the Buckeyes’ head coach’s contract.
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It also includes a $1 million annual retention payment from the program, with Day’s salary in 2024 boosted by a further $250,000 retention bonus for simply still being in post in January. He also receives $1.25 million as a result of Ohio State’s shoe and apparel contract, with deals with Coca-Cola and Kroger increasing his annual pay even further.
As a result of his 2022 contract extension and subsequent retention bonuses, Day’s salary is now double the amount of his first contract as head coach in 2019. In his first full year as the leader of the Ohio State football program, he earned $4.5 million according to USA Today. Since 2018, he has led the team to a 66-10 record, one of the best in college football.
However, Ohio State’s record against bitter rival Michigan and failure to win a national title have led fans (and the media to some extent) to probe one particular aspect of Day’s salary and contract: the buyout. “Ryan Day’s buyout” was actually trending at the end of November after another defeat to the Wolverines that cost the team a spot in the Big Ten Championship Game.
Day’s current buyout is just over $37 million. If the program were to fire him following the 2025 season, it would drop down significantly to around $25 million. It’s worth noting that any buyout would potentially be offset by language in his contract that states a reasonable expectation to find other employment, with his new salary deducted from the buyout amount.
Day’s Net Worth
Under the terms of his seven-year deal, Day has a net worth of $66.5 million, although that amount doesn’t account for annual increases to his salary. It also doesn’t account for any potential bonuses the Ohio State head coach can earn.
His incentives were restructured with changes to the College Football Playoff format, and you can find those specific ones below:
- Winning the College Football Playoff National Championship Game: $1 million
- Reaching the College Football Playoff National Championship Game: $500,000
- Reaching the College Football Playoff Semifinal: $350,000
- Reaching the College Football Playoff Quarterfinal: $250,000
- Reaching the College Football Playoff First-round: $100,000
The College Football Playoff-specific bonuses in Day’s contract are not cumulative, meaning the maximum he can earn is $1 million if he leads the Buckeyes to a national title. If the program falls at the semifinal stage, he’ll earn $350,000 rather than the combined first-round, quarterfinal, and semifinal bonuses.
The remaining bonuses in Day’s contract are as follows:
- Winning the Big Ten Championship Game: $250,000
- Appearing in the Big Ten Championship Game: $50,000
- Winning Big Ten Coach of the Year: $50,000
- Winning National Coach of the Year: $100,000
- Team achieving a combined GPA of 3.5 or above: $150,000
As the pressure builds around Day following the 2024 regular season, he failed to hit any of the athletic incentives related to conference play or head coach awards.
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