Virginia Cavaliers head coach Tony Elliott entered 2023 in his second season as the team’s head coach after 11 successful seasons as an assistant coach at Clemson. While the team is still in rebuild mode, Elliott is being given the time to turn around the football program.
We will take a look at his current contract with Virginia and how much he will get paid in 2023 and beyond.
Tony Elliott Salary and Contract in 2023
Elliott was hired on to Virginia back in December of 2021, where he landed a six-year contract with the school. His salary is over $4 million annually, starting at $4.1 million in 2022. Starting this season, his salary increases by $150,000 every two years. Here is the full breakdown of his salary in each of his six seasons here:
- 2022 – $4.1 million
- 2023 – $4.24 million
- 2024 – $4.24 million
- 2025 – $4.4 million
- 2026 – $4.4 million
- 2027 – $4.55 million
His contract also states that if Virginia were to make an ACC Championship Game appearance or reach ten wins in a season, Elliott would automatically receive a contract extension.
Virginia did offer incentives for Elliott as he initially received a $350,000 signing bonus and $40,000 moving expenses. As for his other incentives, here is a full breakdown of them as they are based on the team’s performance on the field:
- $25,000 Through $100,000 – Bowl Game Appearance
- $50,000 – ACC Championship Appearance, Top 25 Ranking Finish
- $75,000 – Top 20 Ranking Finish, ACC Coach of the Year
- $100,000 – ACC Championship Win, Top 15 Ranking Finish
- $125,000 – Top 10 Ranking Finish
- $150,000 – Top Five Ranking Finish
- $500,000 – College Football Playoff Appearance
The school also included a buyout in his contract that starts at $8 million. It does decrease by $2 million each season after that.
Tony Elliott Net Worth
It’s not known regarding Elliott’s net worth, but based on the team’s performance last season, his net worth would fall around the $4.1 million base salary he is receiving from the school. There are no reports that he receives any compensation outside of the school.
His net worth will go up this season as he receives his $150,000 pay raise. Elliott will need to push the team’s performance to improve if he wants that number to go up.