Patrick Kraft began his tenure as the new athletic director at Penn State on July 1 with one bold goal: to win national championships in all 31 university-sponsored varsity sports.
“We are about 31 [programs] strong, “Kraft said at a press conference in late April.” Listen to me again. We are 31 strong. And we are committed to winning national championships and conference championships in 31 games. Let’s continue the tradition of winning. We will succeed with honor and victory. That tradition is Penn State. ”
That’s ambitious goal setting, for sure, and a strong introductory tone to set for athletes, coaches, fans and donors. But Kraft has also created personal goodwill. If Penn State wins, he wins.
According to the term sheet released by Penn State, Kraft’s five -year contract includes several performance bonuses. Some are academically based but most are competition -centered. In total, Kraft’s bonus list includes 16 opportunities to add to his average $ 1.3 million annual salary.
For example, Kraft will receive $ 100,000 if Penn State plays in a College Football Playoff semifinal game, $ 50,000 if the team plays in New Year’s 6 bowl game and $ 50,000 if the men’s or women’s basketball team plays in the NCAA Final Four.
In total, Kraft can generate up to $ 250,000 in performance bonus per year, according to the term sheet.
“I’m here to win,” Kraft said, repeating the statement for emphasis. “And we’ll win. We’re going to add 80 national championships and 303 conference championships. We’re going to do it with integrity. We’re going to do it with diligence, hard work and determination. We’re going to do it with love, and have fun- We’re having fun. “
Doing so requires what Kraft calls a “deep dive” into Penn State’s finances. In its most recent financial report, Penn State athletics reported a $ 23.9 million deficit for fiscal year 2021, covering the period from June 2020-June 2021, the heart of the closures related to pandemic.
Penn State made a comeback last season, primarily by hosting 747,595 fans for the home football schedule, ranking second nationally in attendance.
“My job is to make sure coaches and student-athletes have it all [need], and then I have to go advocate for them, “Kraft said.” I have to sit down with colleagues across campus and say, ‘Hey, here are some of the pains we’re going through. How can I help that kind of progress through the system that is Penn State? ‘ But I’m not afraid to do that. We can’t move in fear. “
Here’s a look at Kraft’s term sheet performance bonuses, divided by category. Bonuses about the Learfield Directors ’Cup, football and basketball are not cumulative. Kraft receives the highest bonus achieved in each category.
Learfield Directors’ Cup
- $ 50,000 for winning the Learfield Directors’ Cup
- $ 25,000 to be placed in the Top 5
- $ 20,000 to be placed in the Top 10
- $ 15,000 to be placed in the Top 15
- $ 10,000 to be placed in the Top 25
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- $ 100,000 for playing in the semifinals of the College Football Playoff
- $ 50,000 for playing 6 New Year’s bowl games
- $ 35,000 for playing in the conference championship game
- $ 25,000 for playing in the bowl game
- $ 50,000 if the boys or girls play in the NCAA Final Four
- $ 35,000 if the boys or girls play in the NCAA Sweet 16
- $ 25,000 if the boys or girls win the Big Ten regular-season or tournament title
- $ 20,000 if the boys or girls play in the NCAA Tournament
- $ 25,000 for each team (excluding football or basketball) that wins an NCAA title
- $ 10,000 if one or more teams win a conference title
- $ 30,000 for achieving a total graduation success rate (GSR) of 92 percent
- An additional $ 30,000 for the total GSR of 93 percent
Penn State’s latest GSR is 92 percent.
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TananPennState is the place for Penn State news, opinion and perspective on the SI.com network. Publisher Mark Wogenrich has covered Penn State for more than 20 years, keeping track of three teaching staff, three Big Ten titles and a catalog of big stories. Follow him on Twitter @MarkWogenrich. And consider subscribing (home page button) for better access to the entire SI.com network.