Holtz and Heath Sign Extensions with USF

From Greg Auman and USF Athletics - Relax folks, Coach Holtz and Coach Heat aren't going anywhere for a while.  It was announced today from USF athletics that both respective coaches have signed extensions.  Holtz is signed through the 2017 season and Heath has signed through the 2017-2018 seasons, respectively.

Holtz's new deal comes with some new perks to it.  Holtz will make $2 million annually in salary and compensation, will receive bonsuses for reaching the national championship ($500,000), a runner up to the national championship ($400,000), or the Big East title and a BCS berth ($200,000).  Holtz also has more money in the assistant coaches pool (used to pay the assistant coaches on the staff) which now stands at $1.85 million, rising $100,000 each of the next two seasons.  The new contract also has an increased buyout clause in the contract that would cost another team $1 million before 2013 and $500,000 through 2015 (thanks to GA for providing the numbers on the contract).  These are very smart additions to the contract that keep Holtz here in Tampa for the future of the program and protect the team from other programs trying to attract Holtz.  After last season, there was a lot of talk about Arkansas calling on Holtz, but now with the buyouts, it makes it even less likely a team would try to pull him away from Tampa.  There is no doubt that Holtz needs to do better in conference play and with this new extension, athletics is showing they have faith in his ability to get the job done.

Not to be outdone, Heath's new contract nets him $1.13 million in salary next season and the addition of a buyout clause of $1 million before 2014 and $500,000 through 2016 keeps Heath safely here in Tampa where he has turned around the basketball program and has the campus buzzing about hoops for the first time in many years.  After making the postseason run he did and turning the program around after years of disappointment in league play, this is a very deserving extension to a great coach.

This is great news for USF athletics.  Holtz has a talented team that is ready to break through for the Big East title and has a great recruiting class forming behind him for the future along with a talented young team.  Heath, after taking the team to the NCAA tournament for the first time in 20 years, has a new stadium and a loaded roster ready to continue to make history and now both coaches are staying put for many years to come so they can continue the success and continue the winning ways.  Not only do both coaches lead the teams on the field, but they are mentoring great young men that are making impacts in the community and in the classroom as well.  It is an honor to have both of them for the future.