New LSU athletic director Scott Woodward signed a six-year, $7.95 million contract with the University — a large jump from the $725,000-per-year contract LSU had with former athletic director Joe Alleva.
The contract, as reported by The Advocate, starts at $1.1 million a year for the first two years and increases to $1.5 million during the last year of the contract. It goes from May 6, 2019 to April 30, 2025.
Additionally, Woodward's contract also includes a relocation bonus of $250,000 and two other bonuses if he remains at LSU through April 30, 2024, and $500,000, if he remains employed through April 30, 2025.
Woodward was making $900,000 per year for five years as athletic director at Texas A&M, where he had been since 2016.
The contract also includes a conditional extension if LSU is hit with NCAA sanctions for events that happened prior to Woodward's tenure. Woodward's contract would then be extended two years to April 30, 2027, at $1.5 million per year.
If Woodward terminates the contract within the first three years or LSU terminates the contract at any time, one will be required to pay the remaining salary and any other compensation through the remainder of the contract to the other.
If Woodward terminates the contract any time within the first three years, according to the contract, Woodward will pay LSU all base salary and other compensation that remains in the contract.
LSU can terminate the contract at any time for convenience, according to the contract, and will be required to pay Woodward the entire remaining salary, including other compensations, through the rest of the contract.
Woodward's contract and the details surrounding it are still subject to approval by the Board of Supervisors, which next meets Friday, April 26, at 10 a.m. at the LSU administration building.