WVU President Jim Clements approved an amended employment agreement for Luck today. The agreement takes effect Oct. 15.
"Oliver Luck is a true leader. He has brought stability, momentum and energy to his position. He is someone we want on our team for many more years to come," Clements said in a press release. Clements said Luck has "overseen several major capital projects, hired new head coaches and been involved in the best fund-raising year in Athletic Department history – raising some $22.7 million this past year." Luck is "also one of the key reasons WVU is in a powerhouse academic and athletic conference," the release read.
Under the agreement, Luck's annualized salary will be $550,000, with a maximum performance bonus capped at $150,000 per year. He will also receive retention incentives for fulfilling terms in the contract. Luck is in the third year of his original five-year contract that began on June 9, 2010. Clements and Luck spoke earlier this year about multiple rumors that had Luck positioned for varying positions, most recently the Director of Athletics at Stanford. Luck informed Clements of his desire to remain at WVU, and reiterated that in a statement also released by the University.
"I appreciate the confidence that President Clements has placed in me and the entire athletic department team," Luck said. "We will continue to work hard as we transition into the Big 12, and will strive to represent this University and this State with the pride and passion each deserves. This is my alma mater and I am thrilled to serve her."
Luck will continue to press for more facility upgrades included in a master plan that has additional projects in the works. Under Luck, West Virginia, via his hiring of Dana Holgorsen and his anchoring of the movement to the Big 12, has emerged as a national player with a Heisman Trophy favorite and a 5-0 record and top 5 ranking heading into the seventh week of the college football season. In addition, the Mountaineers are well-positioned for future success with a new basketball practice facility and the revenue increase from Big 12 membership.