COLUMBIA, Mo. — On the heels of consecutive winning seasons and two bowl game appearances in his first three years as head coach at Missouri, Barry Odom has received a pay raise and a contract extension.
The new contract, approved by the University of Missouri Board of Curators, was signed and announced Wednesday afternoon. Odom receives a raise of $600,000 and an extention through the end of the 2024 football season.
"I'm excited and thankful to lead our program and student-athletes for years to come," Odom said in the release by the university.
Odom previously made $2.35 million in base compensation, and with $100,000 in deferred compensation, a protection against early termination of his contract to be paid at his departure rolling into that amount, the raise will see him paid $3.05 million annually, with a base pay of $450,000. That deferred compensation increases to $150,000 on Jan. 1, 2019.
It leaves the buyout language of Odom's contract in place, which means to do so Missouri would pay $450,000 per year remaining of Odom's contract, as well as the accumulated deferred compensation, which is about $300,000 after his third season. His total buyout is essentially the same as a year of total compensation, just north of $3 million.
"Barry Odom has done an outstanding job of leading the football program the last three seasons and I'm grateful that we are able to reward that success today," Missouri athletic director Jim Sterk said in a statement. "I am proud of what he has been able to accomplish during his first three seasons.
"With this year's success and the south end zone to be completed in 2019, I believe the team enjoys great momentum heading into the 2019 season and I look forward to working with coach Odom to build upon that."
Odom is 19-18 overall, 10-14 in the Southeastern Conference, since replacing Gary Pinkel, who retired after the 2015 season.
"I'm excited to move forward with Jim Sterk, we have the same vision in building Missouri football and providing a platform for our young men to be successful in all aspects of their lives," Odom said. "We have a great staff in place who care about winning the right way and I'm appreciative of their efforts. I'm grateful for our players, and I'm honored to be their coach. I want to give them the very best every single day."
Late last month, there were reports of mutual interest between Odom and the University of Louisville in its head coaching position. But Odom shot down those rumors less than 24 hours after they started.
Odom's new contract was not amended to include language that would increase the salary pool for Missouri's assistant coaching staff.
Odom's possible incentives were also increased in value, to $1.855 million.
Some of the new incentives include:
An automatic one-year extension from the end date of the contract, Feb. 28, 2025, for a 9-win season, including postseason wins.
Each academic and social goal met is worth $50,000 starting July 1, 2019, which includes program GPA, APR and graduation success benchmarks. If four of the six are met Odom earns an additional $275,000, for a maximum of $425,000.
Starting in 2019, $5,000 per week ranked in the AP, Coaches or College Football Playoff poll for a maximum of $80,000, and $50,000 for a top-25 finish, $75,000 for a top-10 finish and $100,000 for a top-5 finish with a maximum of $100,000.
Payouts for each win greater than six in a season, starting at $25,000 for seven victories and topping out at $350,000 for 14 or 15 wins.
$100,000 for an SEC East championship and an additional $100,000 for winning the SEC.
$50,000 for a Birmingham, Independence or non-SEC affiliated bowl, $100,000 for a Citrus or SEC-affiliated bowl (the Liberty Bowl is one of six affiliated bowls), $200,000 for a New Years Six non-CFP semifinal, $250,000 for a CFP semifinal appearance, $400,000 for a national championship appearance and $500,000 for a national title, with a cumulative maximum set at $500,000.
Odom also earns 20 percent of any home football ticket revenue that exceeds $11.7 million.