GMU Nearly Doubles Larranaga's Salary
George Mason men's basketball coach Jim Larranaga 's base salary will increase by more than 90 percent to $375,000 per year, according to a copy of the coach's new contract obtained through an open records request. Last year, that figure would have easily been the highest base salary among basketball coaches at the eight Colonial Athletic Association schools subject to public disclosure laws.
Larranaga led the Patriots to their first four NCAA tournament wins, a berth in the Final Four and a flurry of national media attention this season. The school announced late last month that the 56-year-old coach had signed a new contract that would run through the end of the 2012 season, although terms were not disclosed at the time.
"This was just the right thing to do," said George Mason President Alan G. Merten . "His market value is very high. He should be rewarded for what he did, and he should be, in some sense, compensated for what we expect him to do."
Larranaga's base salary last season was just under $200,000. He also earned approximately $80,000 in basketball-related performance bonuses.
If the Patriots were to continue their success, Larranaga's new contract would pay him considerably more than his base salary. He is eligible for a $10,000 annual bonus for winning 19 regular season games and a bonus of 10 percent of his base salary for making the NCAA tournament, with additional bonuses for NCAA tournament victories or for success in the National Invitation Tournament.
Larranaga, who has spent nine seasons in Fairfax, is eligible for a lump-sum payment of $75,000 each spring he remains at George Mason, and for various academic performance bonuses. The coach also receives significant income from his summer camp and from outside speaking engagements.
The Patriots' three assistant coaches each received 25 percent raises to their base salaries, according to the open records request.
-- Dan Steinberg