As The World-Herald's Rich Kaipust reported on Monday, the University of Nebraska will be paying Bo Pelini nearly $6.54 million as part of its buyout agreement with the former head coach who's now the head man at Youngstown State. Pelini's contract as the coach of the Penguins — which will pay him $213,894 annually — reduces the amount owed by Nebraska by $21,991 per month.
When dealing with big numbers — and $6,539,933 qualifies — we like to break it down to something more relatable. So here are some interesting stats we extracted from the buyout agreement, with all numbers based on the $128,009 monthly payment figure unless otherwise stated:
>> In a one-year period, Nebraska will pay Pelini $1,536,108, while Youngstown State pays Pelini $213,894 (a total annual salary $1,750,002). In other words, NU is paying about 87.7 percent of Pelini's yearly income. That number would change if Pelini's annual salary is adjusted by either YSU or should he gain other sources of income.
>> At $128,009 per month from now through Feb. 28, 2019 — 1,389 days — Nebraska will pay Pelini $4,212.99 per day to not be the Husker coach. That includes weekends.
>> Pelini's weekly pay from Nebraska works out to $29,490.91.
>> Putting it in context of the 40-hour work week, that works out to $737.27 per hour, or $12.29 per minute. And now that you're thinking about it, we'll take the next logical step: For every second of the 40-hour work week, the University of Nebraska will drop about two dimes (20.4 cents) into Pelini's pockets.
>> According to U.S. Census data, per capita annual income in Nebraska is $26,899. At an hourly wage of $737.27, it'd take Pelini about 36.5 hours — less than one work week — to meet the average Nebraskan's annual income.
>> Census data shows that the average per capita income for a resident of Youngstown, Ohio, is $14,876. It'd take just over 20 hours of work for NU's buyout funds to put Bo on par with the annual take-home pay of many of his new neighbors.
>> How much does Pelini's salary at YSU affect NU's obligation? Some, but if Pelini landed a higher-paying job it could have lowered NU’s obligation even more.
Due to previously negotiated terms, Pelini was due $150,000 per month after termination through the length of his contract (February 2019), with Nebraska paying the difference between that figure and any future income. What if Bo took a well-paying defensive coordinator job?
New Nebraska defensive coordinator Mark Banker has a contract worth $550,000 per year, or about $45,833 per month — about $104,167 less than NU's monthly obligation. Had Pelini taken a job similar to Banker's, Nebraska would save $23,842 per month in buyout payments, or savings of about $286,000 per year and nearly $1.1 million through February 2019.
>> What if Bo had landed an even more lucrative contract — another Big Ten head coaching job, for example?
Wisconsin coach Paul Chryst reportedly signed a five-year deal worth $12.5 million, or about $2.5 million per year. Had Pelini received a similar deal, NU would be freed of its obligations since Pelini's new income would average out to $208,333 per month, or $58,333 more than NU's previously negotiated payments of $150,000.
So the buyout clause in Pelini's contract left NU's former coach in the unique position of being able to take whatever job he wants — like a relatively low-profile spot at his hometown school — yet get paid on the same scale as the guy tapped to lead one of the Big Ten's premier programs.