Oregon State is bringing in Jonathan Smith at a discounted rate, increasing the money available for Beavers assistant coaches and keeping its overall football salary pool roughly the same.
Smith is set to earn $9.5 million over five years, according to a memorandum of understanding obtained by The Oregonian/OregonLive. His contract, which is being finalized, will run through the 2022 season.
The 38-year-old first-time head coach will make $1.9 million each season, earning $950,000 in annual base salary and $950,000 in annual non-salary compensation. The figures are the same for each year, unlike for former coach Gary Andersen, whose annual compensation was set to gradually increase each year until reaching $3.