The LSU Board of Supervisors approves new Athletic Director Scott Woodward’s six-year, eight-million dollar contract. LSU Vice President for Legal Affairs Thomas Skinner says the contract includes hundreds of thousands of dollars in bonuses, and the base pay will increase over the length of the deal.
“First two years of the contract are at 1.1 million dollars a year, years three and four are at 1.3 million approximately, years five and six are 1.5 million,” said Skinner.
Woodward also receives a $250,000 relocation bonus and $250,000 if he stays on the job for five years.
The Baton Rouge native is the first LSU AD to make over one-million dollars a year. But Skinner says only $525,000 of it comes from taxpayer dollars.
“It will be some combination of TV revenues and or funds from affiliated entities in the past TAF (Tiger Atheltic Foundation) has funded some of this contract,” said Woodward.
The contract is also is a higher salary than Woodward’s old job as Texas A&M’s AD.
Board member Valencia Jones thanked Woodward for his decision to join the Purple and Gold, and says the AD is a high caliber talent who will bring success to the Ole War Skule
“As a native of Baton Rouge and graduate of LSU, Mr. Woodward knows who we are and most importantly he understands what we can accomplish when we are heading in the same direction together,” said Jones.
The board also approved the amendments made to basketball coach Will Wade’s contract, which takes away his bonus pay for winning an SEC title and reaching the NCAA Tournament. Wade’s new contract also allows LSU to fire him, if the NCAA determines he committed violations.
