JOHNSON CITY, Tenn. (WJHL) — East Tennessee State University will pay new men’s basketball head coach Jason Shay $250,000 in annual base pay, according to a contract released by the university Thursday.
Shay was named head coach earlier this month after Steve Forbes left for Wake Forest.
According to the three-year contract, Shay’s base pay would increase by $15,000 annually if the team wins 25 or more games in a season. The contract will also be automatically extended for an additional year for every year the team wins 25 or more games during the original three-year term.
In addition to the base pay, ETSU will pay Shay an annual stipend of $50,000 for additional responsibilities such as community relations activities and $12,500 to be used for professional development.
The contract also includes a host of performance incentives, such as $10,000 if the team wins the Southern Conference regular-season championship and $25,000 for appearing in the NCAA Men’s Basketball Tournament.
ETSU will also provide Shay with tuition waivers for up to a total of 20 semesters of full-time enrollment at the university for his children, Peija and Joah.
Steve Forbes, who led the Buccaneers to five straight seasons of 24 or more wins and two conference tournament championships, was making $400,000 in base pay plus an extra $200,000 in retention pay under his contract with the university.
Click here to download and view ETSU’s contract with Jason Shay.
This is a developing story. Look for updates on WJHL.com and the WJHL App.