This is, well, interesting.
In August of this year, Bill Snyder and Kansas State reached agreement on a contract extension that would’ve kept the 78-year-old head coach in Manhattan through the 2022 season. That new deal called for Snyder to be paid $3 million in the form of a buyout should he be fired without cause.
Fast-forward four months and, for the second time, Snyder announced his retirement from the Wildcats earlier in December. Wednesday night, K-State athletic director Gene Taylor confirmed to the Wichita Eagle‘s Kellis Robinett that the university will pay Snyder the entire $3 million even as the coach was not contractually obligated to receive it as he retired and wasn’t fired.
The $3 million, to which Snyder agreed to accept, will be paid out over the course of the next three years.
“The buyout is just something I wanted to do,” Taylor told Robinett. “I think he deserved it for everything he has done. …
“[H]e deserves every penny for what he has done for this program. I am happy to do it.”
Taylor is certainly correct when it comes to all that Snyder has done for the football program.
Of K-State’s 21 bowl appearances in its 123-year history, 19 have come with Snyder as head coach. In the 27 seasons in which Snyder served as head coach, the Wildcats won 215 games; in the other 96 seasons, the Wildcats have won 316. Or, put another way:
- Winning percentage with Snyder: .647
- Winning percentage without Snyder: .379
In addition to the $3 million buyout that Taylor said “really isn’t a buyout,” Snyder will also be paid, as detailed in the August contract extension, $225,000 annually as a special ambassador to the university.
“We don’t know yet exactly what his ambassador role to the university will be,” Taylor said. “It is probably going to be a little bit in athletics and a lot in his leadership studies and then anything else from a donor perspective.”