College football coaches get paid millions, presumably because there is so much money involved in college football the need to win is paramount. However, head coaches are often fired when a season goes badly, such as Gene Chizik at Auburn University in late 2012. Coach Chizik’s buyout provision (if fired before his contract ends, which happened) was $7 million, pretty typical for Division 1 top-tier head football coaches. In fact, the whole Auburn University football coaching staff including Chizik was bought out the same day (11-26-12) for $11.09 million. How could a head coach’s compensation package be better structured for encourage winning, and at the same time not be so potentially costly to a university.
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