Will Wade missed out on cutting down a piece of the Maravich Center's nets after LSU basketball's SEC regular-season championship-clinching win Saturday night. And the second-year coach is also having tens of thousands of dollars in bonuses -- and likely much more -- withheld from him amid his indefinite suspension.
According to his contract with the university, Wade is prohibited from collecting that money -- as well as any other incentive compensation, supplemental compensation or benefits owed to him -- while suspended.
Wade was indefinitely suspended from the team Friday after declining to meet with university officials about comments he reportedly made in a wiretapped phone call with a federally convicted college hoops middleman about an offer made to a recruit, believed to be freshman guard Javonte Smart.
The comments Wade made were reported on by various media outlets, including Yahoo! Sports and ESPN. LSU officials asked Wade to "provide further information and explanation regarding what was reported through the media," Robert Munson, senior associate athletic director at LSU, told The Advocate Friday night. "He respectfully declined to do so, resulting in a suspension until more information can be gathered and reviewed."
LSU suspended men’s basketball coach Will Wade “indefinitely” Friday after Wade declined to meet with university officials about comments he r…
While Wade will still receive his $400,000 base salary for the season, this means he won't get his SEC championship bonus unless the suspension "is resolved" in his favor, according to the language in his contract.
"If the matter giving rise to the suspension is finally resolved in favor of (Wade), and does not otherwise represent an independent basis for termination for cause, LSU shall pay or make available to (Wade) the benefits and other compensation herein otherwise payable to (Wade) during the period of suspension," Rule 12, Article D, Section 2 of Wade's contract says. "Suspension under this sub-section shall not limit any rights of LSU to terminate (Wade) for cause."
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Altogether, Wade could lose out on $800,000 of postseason, recognition and academic achievement bonuses while under suspension, and $550,000 of that could come just from LSU's postseason success, as LSU officials have said the Tigers will not skip out on the SEC or NCAA tournaments.
On top of the $50,000 he's already made, Wade could earn $50,000 if LSU wins the SEC Tournament, $100,000 for making an NCAA Tournament appearance, $100,000 each for advancing to the Sweet Sixteen and Final Four rounds of the tournament and $150,000 if LSU wins the national championship.
Wade could also earn $100,000 if he's named either the National Association of Basketball Coaches, Naismith or AP coach of the year and $50,000 if he's voted as the SEC coach of the year.
The final $100,000 bonus Wade could earn is an academic bonus if the men's basketball team's academic progress rate is higher than 930 at the end of the year.
There was never anything like this at LSU, was there?
Wade is also not receiving -- for now -- a chunk of the $2.1 million in supplemental compensation he's paid out over a 12-month period for appearing and participating in LSU-sanctioned television, radio, social media and internet programs concerning LSU and the men's basketball team.
Wade is contracted with the Tigers through June 30, 2023.