Not long after being named the nation's top athletic director, MSU AD Mark Hollis has been rewarded with a new contract from MSU.
The contract has been converted to a five-year rolling deal that will renew each July 1. Here are the contract details:
- Base salary increased to $600,000 (from $395,000) beginning Oct. 1, 2012
- Annual longevity payment of $100,000 contingent on Hollis' continuous services for the previous 12 months. This will be paid each July.
- Annual performance up to $50,000 "for achievement of performance objective, including compliance with NCAA and Big Ren Rules, specific financial performance metrics, and fundraising objectives." This is a decrease from $62,000 in his current contract.
Similar to when Pat Narduzzi was rewarded with a raise, this was a no-brainer. MSU had come under some heat publicly for underpaying Hollis, who has proven to be one of the top outside-the-box thinkers in college athletics.
According to last year's USA Today database of AD salaries, this raise would put Hollis around No. 4 in the Big Ten among the 10 schools that provided info.
While Hollis publicly stated his salary wasn't an issue, his attention now can fully be on the advancement of MSU athletics. Whether that's in new coaches, new facilites or new frontiers, the future of MSU athletics now is more secure.
Quotes from Hollis and president Lou Anna K. Simon after the jump.
“In his short time as Michigan State’s athletics director, Mark Hollis has time and time again proven to be a visionary leader, one not afraid to take risks for the betterment of his department and his university. From being named SportsBusiness Journal’s Athletic Director of the Year to his appointment to the NCAA Division I Men’s Basketball Committee, we’re pleased that his talents have been recognized on a national level. We are grateful for his dedication to MSU and look to have him as an integral part of Team MSU for years to come.”
“Continuity in coaching staffs has been a critical ingredient for the sustained success of many of our sports programs. Likewise, stability in the long-term strategic development for the department is equally vital for achieving that same level of success. While it’s important to celebrate our past innovation and championship success, we will continue to set our sights higher for our student-athletes, who represent 25 programs, and I firmly believe our best days are ahead.
“In Tom Izzo and Mark Dantonio, I have an opportunity to work alongside two of the nation’s marquee head coaches in their respective sports, but what makes Michigan State special is that I’m surrounded by talented coaches and administrators. This is a cohesive coaching and administrative staff, and I look forward to continuing to work with them. My desire is to be here for the long haul, not only because I’m an alum, but because I believe in these coaches and in their positive contributions to our student-athletes and community.
“Our recent success reflects the fact that everyone has been working together with the same goals in mind. This mindset must continue to either sustain our championship success or to reach even loftier goals. I truly believe that we’re on the verge of accomplishing some special things here, but we can’t do it alone. We need a combined effort from all of our stakeholders – coaches, administrators, alumni, donors and fans – for our program to reach new heights. All of us must continue to support our student-athletes daily in their quest for championships.
“I understand market compensation, but it must be weighed against the challenges we’re facing here on our campus. President Simon and I have been in constant communication in regards to compensation since last December. I deeply appreciate the confidence and trust President Simon, our Board of Trustees and other administrators have in me.”