Final Four run nets Frank Martin $200,000 in bonuses
No economist, marketer or financial analyst could accurately quantify the value of the national exposure the University of South Carolina has gained during its run through the NCAA Tournament.
But one does not need an expert accountant to calculate the benefit for USC coach Frank Martin.
The victory against Florida on Sunday earned the Gamecocks their first trip to the Final Four. It also earned Martin $100,000. Through South Carolina's four tournament victories— the program's first since 1973— Martin has compiled a total of $200,000 in performance bonuses.
He will receive an additional bonus of $200,000 if the Gamecocks cap this enchanting trip with a national championship.
The performance-incentive package is part of the four-year contract extension Martin signed around this time last year. It raised Martin’s base compensation to $2.45 million, a $350,000 increase from his previous salary. That figure is set to increase by $50,000 each year through the duration of the contract, topping at $2.7 million in the 2021-22 season.
Five years ago Martin inherited a program with no heritage of success and little brand recognition outside the state’s borders. He has expanded South Carolina's recruiting reach and enticed coveted local products to remain home. He has elevated the Gamecocks’ status in the Southeastern Conference and ended a list of embarrassing postseason droughts.
With Carolina’s last four wins, Martin orchestrated a priceless advertising campaign and pushed the brand to a national audience.
The coaching carousel has already turned this month with openings at traditional powerhouses Indiana, Georgetown and North Carolina State, as well as Virginia Commonwealth and Dayton. As those positions are filled, others will open. South Carolina’s rise to prominence enhances Martin’s appeal.
The outside allure may compel USC athletic director Ray Tanner to augment Martin’s competitive pay. Martin’s total compensation would have ranked him 17th among Division I coaches in the tournament last year, according to figures compiled by USA Today Sports. Martin would have been slotted ahead of Purdue’s Matt Painter, Maryland’s Mark Turgeon, Virginia’s Tony Bennett, Notre Dame’s Mike Brey and Gonzaga’s Mark Few, his opponent in Saturday’s semifinal.
A national championship would push his total pay to nearly $3 million. Merely 10 tournament coaches reached that benchmark last year.
Martin’s contract also guaranteed him a $15,000 bonus for leading South Carolina to at least 12 wins in the SEC. The Gamecocks closed the regular season with a 12-6 league record. Martin added a pair of $25,000 bonuses for reaching the NCAA Tournament and advancing to the Sweet 16. He received another $50,000 for advancing to the Elite Eight.
Yet, if Carolina completes this priceless postseason with a national title, $415,000 in bonuses may feel like a bargain.