By Bob Hertzel
Times West Virginian
Athletic Director Oliver Luck agreed to an amended employment agreement today which extends his contract through 2017 and pays him $550,000 annually with performance bonuses capped at $150,000 per year.
Luck, in the third year of a five-year deal, will also receive incentives for fulfilling terms in the contract. The agreement takes effect Monday.
“Oliver Luck is a true leader. He has brought stability, momentum and energy to his position. He is someone we want on our team for many more years to come,” WVU President Jim Clements said.
Since coming to WVU, where he once quarterbacked the football team, Luck has overseen several major capital projects and has been involved in the best fund raising year in athletic department history – raising $22.7 million this past year.
He also guided the Mountaineers through the move into the Big 12 from the Big East, brought in football coach Dana Holgorsen, and hired a number of coaches in the non-revenue sports.
Among his business moves was the initiation of selling beer in Milan Puskar Stadium, a successful move that added half a million dollars in revenue the first season and now has been extended on a limited level to the Coliseum for men’s basketball games.
“I appreciate the confidence that President Clements has placed in me and the entire athletic department team,” Luck said. “We will continue to work hard as we transition into the Big 12, and will strive to represent this University and this State with the pride and passion each deserves. This is my alma mater and I am thrilled to serve her.”
Email Bob Hertzel at email@example.com. Follow on Twitter @bhertzel