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Sharp, Tech agree to new contract
LUBBOCK, Texas (AP) -- Texas Tech women's basketball coach Marsha Sharp received a five-year contract extension that matches the length, base and deferred salary packages of Bob Knight, who received a five-year, $4.5 million deal to become the school's new men's basketball coach. Tech sports information director Chris Cook said Sharp, the women's basketball coach since 1982, had been promised a pay raise before Knight's arrival. "That's not why we did this," Cook said when asked if Sharp's salary was adjusted because Knight was hired. "What's she done since she's been here speaks for itself. We would have done this even if [recently fired men's basketball coach] James Dickey had been here." Tech's revision for Sharp, starting Sept. 1, includes a $200,000 annual raise and a one-year extension from April 2005 to April 2006. Her new guaranteed annual income of $600,000 makes her the second-highest paid coach at Tech, including the addition of $150,000 in annual deferred salary and a $50,000 increase in base salary. The revised agreement for Sharp will mirror Knight's contract length through 2006, $250,000 base salary and $150,000 annual deferred income package to be paid at the end of the contract. The contracts are identical except for guaranteed outside income. Sharp's deal guarantees her at least $200,000 in outside income, including shoe and radio deals. Knight is guaranteed $500,000 in outside income, recognizing his income-generating power as one of the most acclaimed coaches and speakers in college sports, according to the contract. "I'm really grateful for what Tech is doing for us," Sharp told the Lubbock Avalanche-Journal in Thursday's online edition. "I really feel like for a long time that this is one of the best places in the country to coach." Sharp has led the Lady Raiders to 14 NCAA Tournament appearances at Tech, including the 1993 national championship. Her 19-year career record at Tech is 459-141. Her current contract was signed in December 1998 and guaranteed her $400,000 annually, including outside income.
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