For better or worse, Nick Saban is one of America’s highest paid public sector employees and one of the wealthiest people working in higher education.
And he just got even richer.
On Tuesday, the University of Alabama’s Board of Trustees unanimously agreed to extend Saban’s contract by two years and to pay him $6.5 million per season with a $400,000 completion bonus. That means over the course of the contract’s life, Nick Saban stands to make at least $55.2 million.
According to USA Today, Saban was already the highest paid football coach at a public university, so this is being done to make sure that Saban has 55 million reasons to stick around for the full eight years of his newly extended deal. As if he needed any more reasons to stay with the Crimson Tide, Saban can also earn an extra $700,000 in performance bonuses per year.
Who said that there wasn’t ridiculous amounts of money to be made in public education.