Hate him or love him, Skip Holtz is here to stay. The University of South Florida Football head coach has just signed a three-year extension on his contract making him a permanent fixture within the USF football program until the 2017 season.
Holtz' contract was extended alongside USF men's basketball coach Stan Heath's who has been coaching the team since 2007.
In Holtz' two seasons of coaching the Bulls he's lead the team to a combined 13-12 record. In 2011, the Bulls suffered a dismal overall record of 5-7 making it the first time they've missed the postseason since 2004.
According to the Tampa Bay Times, Holtz will earn $2 million per year and be eligible for annual raises based on his annual performance. This isn't a significant bump in salary for Holtz, although he will now have more money for assistants and some nice monetary incentives including $200,000 for winning the Big East, $400,000 for getting to the national title game, and $500,000 for winning the national title.
After rumors began swirling about Holtz being a potential candidate for coaching jobs at North Carolina and Arkansas, Holtz' contract comes with a buyout clause. Holtz must pay the university $1 million if he leaves during the next two seasons and $500,000 if he leaves during the two following seasons.
On Saturday, September 1, Holtz will lead the University of South Florida Bulls as they kick off the 2012 season against the Chattanooga Mocs at Raymond James Stadium.
