Ohio State football coach Ryan Day’s new contract details revealed

Ohio State reached an agreement in principle with Ryan Day earlier this week, extending his contract through the 2031 season and making him the second-highest paid coach in major college football.

Day is due to receive $12.5 million as part of his annual compensation package, according to a copy of a terms sheet obtained Thursday by The Dispatch through a public records request.

The raise is on the heels of Day leading the Buckeyes to their first national championship in a decade, guiding them through the inaugural 12-team College Football Playoff last month with four consecutive postseason wins.

Following the championship run, Day joined Georgia’s Kirby Smart and Clemson’s Dabo Swinney as the only active coaches in the Football Bowl Subdivision to win a national title.

Day, who took over for Urban Meyer full-time in 2019, has a 70-10 overall record as the Buckeyes’ coach.

Need a break? Play the USA TODAY Daily Crossword Puzzle.

While the extension and raise for Day remain subject to approval by the university’s board of trustees, here are the details from the terms sheet:

Day’s annual compensation is made up from his base salary ($2 million), media services ($7.25 million), sponsorship services ($1 million), retention award ($1 million) and apparel, shoe and equipment services ($1.25 million).

The full term of the agreement is through Jan. 31, 2032, spanning the Buckeyes’ next seven seasons.

Day is also eligible for an additional retention award of $250,000 if he remains at the helm of the program on Jan. 31, 2027.

After taking effect last Saturday, the total value of the contract is $87.75 million, not including possible performances incentives.

Ryan Day buyout details
If Ohio State is to fire Day without cause, it would owe him liquidated damages from his base salary, media services, sponsorship services and apparel, shoe and equipment services, adding up to $11.5 million per year. Retention payments are not included in buyout pay.

The buyout remains subject to mitigation as under previous agreements, requiring Day to attempt to find and secure other work to help offset any potential severance.

If Day leaves Ohio State for another job within the next year, he would owe the school $6 million. The amount drops to $4 million next February, then by $500,000 in each of the subsequent years.

Ryan Day performance bonuses
The incentive structure did not change under the agreement.

Day is eligible to receive as much as $1.4 million in on-field bonuses, which include $1 million for winning the national championship.

Other potential bonuses are $250,000 for a conference championship, $100,000 for being named national coach of the year or $50,000 for Big Ten coach of the year.

He can also receive bonuses for the Buckeyes’ success in the classroom, beginning at $50,000 if the cumulative grade-point average of the players surpasses 3.0. He can make as much as $150,000 for a 3.5 GPA or higher.

More:How much did Ryan Day, Ohio State football assistants earn in bonuses for national title?

Highest-paid college football coaches
Only Smart, who led the Bulldogs to consecutive national championships in 2022 and 2021, is in line to make more than Day.

He can also receive bonuses for the Buckeyes’ success in the classroom, beginning at $50,000 if the cumulative grade-point average of the players surpasses 3.0. He can make as much as $150,000 for a 3.5 GPA or higher.

More:How much did Ryan Day, Ohio State football assistants earn in bonuses for national title?

Highest-paid college football coaches
Only Smart, who led the Bulldogs to consecutive national championships in 2022 and 2021, is in line to make more than Day.

Smart made nearly $13.3 million last, according to USA TODAY Sports’ annual survey of coaching salaries.

Day projects to be ahead of Swinney, who received $11.1 million in compensation from Clemson last season.

Texas coach Steve Sarkisian, who made $10.6 million as the third-highest paid coach in the FBS in 2024, also received an extension last month, but financial terms were not immediately known.