When T.J. Otzelberger dumped UNLV for Iowa State it was for his dream job, a return to the school he spent so many years as an assistant coach.
He did not leave UNLV for a significant raise though.
Iowa State will pay Otzelberger $1.5 million a season for the next five years, according to the Des Moines Resgister.
If Otzelberger had stayed at UNLV, he would have made $1.3 million for next season. Plus he had built in raises to $1.4 million and $1.5 million for the following two years.
It really wasn’t about the money for the Otzelberger, as he is now the lowest paid coach in the Big 12.
Iowa State did agree to pay Otzelberger’s buyout of $3.4 million to UNLV. Plus the school agreed to pay any extra taxes incurred by Otzelberger due to Iowa State paying for his buyout.
The Des Moines Register estimated that could cost Iowa State over $1 million.
The Cyclones also had to pay Steve Prohm a $5 million buyout after firing him this offseason. Prohm made $2.4 million last year, but went 2-22.
UNLV signed new head coach Kevin Kruger to a five year contract worth $3.85 million. He starts off making $750,000 a year and has raises up to $800,000 by his fifth season.
Ultimately UNLV will save $1.925 million over the next three seasons based on Otzelberger’s salary compared to Kruger’s. Including the buyout from Iowa State and UNLV will have made or saved just over $5 million on this offseason coaching change.