They may be doing it for the love of the game, but a fat bank account wouldn’t hurt either.
Clemson’s college football team, the Tigers, weren’t the only winners when they were declared the 2016 National Champions.
Yahoo Sports reported that their coaches also got a check for $1.3 million from Atlanta-based broker Risk Point Consulting after the school invested $272,000 in contractual bonus insurance last summer to help with the coaches’ incentives.
Risk Point explains on its website that contractual bonus insurance is a policy that protects mostly schools for their obligation to pay out incentive bonuses. This product helps financially challenged schools give cash incentives to their athletic staff in the event of a win.
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In Clemson’s case, coach and staff bonuses increased by $1.15 million from 2015 to 2016 following its win at the National Championship Game. The bonus insurance from Risk Point helped them save $1.05 million.
“It was the craziest thing,” Deputy AD Graham Neff said in the
Yahoo report. “I got it and I went and got Eric (George) and Dan (Radakovich) and said, ‘Here it is boys! That decision we made in the summer, prior to the season, saved us a million bucks.”
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