Ohio State and athletic director Gene Smith have reportedly agreed to a contract extension that will keep him with the university through June 2026 and compensate him over $2 million per year, according to Dan Hope of Eleven Warriors.
Per that report, "Smith's new contract will pay him $1.58 million in annual base salary—an increase from his previous base salary of $1.1 million—along with $480,000 in annual supplemental compensation for media, promotions and public relations."
He'll also have a number of sport-specific bonuses, including the Ohio State football program winning the Big Ten title ($20,000), reaching the College Football Playoff or a New Year's Six game ($35,000) and reaching the national championship game ($50,000).
And if Ohio State's student-athletes average a GPA of 3.0 or higher, he'll receive a $55,000 bonus, which will increase to $75,000 for a GPA of at least 3.3 and $90,000 for at least a 3.5.
Smith had been mentioned as a potential candidate to replace Larry Scott as Pac-12 commissioner, though the conference ultimately went with George Kliavkoff, president of entertainment and sports with MGM Resorts International.
Smith has served as the school's athletic director since 2005. Under his watch, the school's athletic department budget has gone from $89.6 million to $223.6 million in 2019, the last year with a full schedule of games and fans in attendance.
The results on the field and court have also been impressive. The football program has won 10 Big Ten titles in his tenure, a national championship in 2014 and four CFP appearances.
During that same span, the men's basketball team has won five Big Ten regular-season titles, four Big Ten tournament titles and reached two Final Fours, while the women's basketball team has won eight regular-season titles, five conference tournament titles and has reached the Sweet 16 four times under his watch.