Patrick Crarey II was hired as the 15th head basketball coach for Florida A&M University (FAMU) back in April and a recent report from Rattler Nation indicates that the move from NAIA’s Saint Thomas University to a Division I HBCU could potentially triple his salary with an incentive heavy contract.
Rattler Nation, an independent blog covering FAMU reports that according to public records from Glass Door and college factual, Crarey’s salary at Saint Thomas was likely somewhere in the 36K-$65K per year range.
According to the employee agreement between Patrick Crarey II and FAMU, his new salary will be $150K per year and the contract will run from July 1, 2024, to April 5, 2027.
The employee agreement is of public record because of Florida’s Sunshine Law that provides a “right of access” to governmental proceedings of public boards or commissions (i.e., meetings) and the Florida Public Records Act that extends the “right of access” to include all documents and other materials made or received in connection with official university business.
While the contract did not include relocation incentives for his move from Miami to Tallahassee, the agreement is full of performance-based incentives to increase his bottom line.
On the academic side, Patrick Crarey II will be eligible for a $2,000 bonus if his team achieves a graduation rate of 85 percent based on the NCAA Graduation Success Rate or if his team achieves an Academic Progress Rate (APR) of 960 or higher.
Winning basketball games will be lucrative as well. Crarey will receive $1,000 for a regular conference championship and $2,000 for winning the SWAC tournament championship with an additional $2,500 for being named conference coach of the year.
When it comes to post-season success, Crarey will receive $1,000 if his team makes it to the National Invitation Tournament (NIT), whereas an appearance in the NCAA tournament would earn Crarey either $2,500 for a tournament appearance, $5,000 for the first tournament win, and $1,000 for each subsequent tournament game win, with a $15,000 bonus if the Rattlers become the first HBCU basketball program to make a final four appearance.
Crarey also has an incentive to schedule big-name teams, as the contract comes with an extra $30,000 if he schedules more than $600,000 worth of guaranteed money games each season.
All of the performance incentives in the contract are “subject to the availability of funds”, but Crarey will retain all revenue from his coaching camps, giving him another way to add to his already significant pay increase to become an HBCU head basketball coach.
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