After signing a two-year contract extension ahead of the 2022 college football season, Ohio State head coach Ryan Day now has a salary that is one of the highest in college football. What does that contract look like, what salary will Day earn in 2023, and what is the net worth of the Ohio State head coach?
Ryan Day’s Salary and Contract in 2023
Day’s current contract — including the two-year extension that was announced in May 2022 — is a seven-year deal that is worth a total of $66.5 million. Unlike some of the other highest-paid head coaches in college football, Day’s salary doesn’t increase annually. He’ll receive $9.5 million per year, including in 2023, throughout the life of the deal that runs through the 2028 season.
That said, Day’s $9.5 million salary for the 2023 season isn’t as straightforward as that. The Ohio State head coach has a base salary of $2 million. On top of that, he earns a $5.24 million media fee for regular radio, television, and press conference appearances. Also included in the contract is a $1 million retention bonus, a $1.25 million apparel contract, and a $10,000 Coca-Cola sponsorship.
In addition to his salary, Day has several perks built into his contract as the head coach of the Buckeyes. He has a full membership of a Columbus-area golf course. His family has the use of a suite at every Ohio State home game. Additionally, Day has the use of a private plane for recruiting visits and up to 50 hours personal time per year. Meanwhile, he gets a $1,200 automobile allowance every month.
As one of the highest-paid CFB head coaches, Day is under significant pressure to perform — especially at a program like Ohio State. He’s 45-5 with the Buckeyes, but a failure to beat Michigan and subsequent inability to win the Big Ten Championship in consecutive seasons could raise questions about his tenure.
Firing him before Jan. 31, 2023, would see Ohio State pay Day’s full remaining salary, which is $56.4 million.
Day’s Net Worth
With salary, retention bonus, apparel contract, and media fee, Day is worth $66.5 million over the course of the next seven years. Ahead of the 2022 College Football Playoff semifinal matchup with the Georgia Bulldogs, that equates to $1.33 million for every game of his five-year tenure since taking over from Urban Meyer as the head coach of the Buckeyes.
However, the more success Day brings to the program, the more he can add to his net worth. There are several performance-based incentives woven into his current contract, with Ohio State’s success both on and off the field helping their head coach to be fiscally rewarded.
Day missed out on $150,000 for failing to win both the Big Ten East and Big Ten Championship. He also lost out on an additional $150,000 for not being named Big Ten Coach or National Coach of the Year.
Still, there are several bonuses still within his grasp. When USC lost in the Pac-12 Championship and allowed the Buckeyes a backdoor entry to the College Football Playoff, it guaranteed Day a minimum of $250,000. If they beat Georgia, that jumps to $350,000. Furthermore, academic success can net the Ohio State head coach up to $150,000 if the team achieves a 3.5 GPA.