Michigan is on the hook to pay FAU for coach Dusty May's buyout. Here are the numbers
Dusty May is headed for a major pay increase from the $1.25 million he earned this season at Florida Atlantic.
But May's salary is not the only money Michigan will be on the hook for when the 47-year-old finalizes his deal to become the Wolverines' next coach.
The Detroit Free Press reported May was to sign a five-year deal Sunday. His new average salary is expected to triple what he earned this year.
What is Dusty May's buyout?
Michigan will pay FAU the $1 million buyout to hire May, who just completed the first year of a 10-year extension he signed following the Owls' 2023 Final Four run.
The terms of May's contract called for buyouts starting at $1.5 million if he left before Feb. 29 of this year. The number dropped by $500,000 on March 1.
By the numbers: FAU rewards Dusty May with a 10-year contract
May's buyout would have decreased to $750,000 if he left between March 1, 2025, and Feb. 28, 2026; and $500,000 if he took another job after Feb. 28, 2026.
May, who won 60 games at FAU over the past two seasons and has a 126-69 record in five seasons with the Owls, was looking at a $64,500 raise to $1,312,500 in base pay had he remained at FAU for the 2024-25 season, with a 5% bump each year through 2033.
What is new Michigan coach Dusty May's salary?
May's average base salary in his current contract had he remained all 10 years would have been $1,572,236 million.
Juwan Howard earned $3,761,300 last season, and it cost Michigan a $3 million buyout to fire him after an 8-24 season, including 3-17 in the Big Ten.
Tom D'Angelo is a senior sports columnist and golf writer for The Palm Beach Post. He can be reached at tdangelo@pbpost.com.
This article originally appeared on Palm Beach Post: Dusty May salary: How Michigan will pay FAU for head coach's buyout