The city's two Division I men's basketball coaches each make more than $1 million a year.
The University of Richmond's Chris Mooney made $1.14 million in the fiscal year that ended June 30, 2012, according to the school's tax returns. Shaka Smart coaches VCU and his contract, which runs through 2023, guaranteed him $1.45 million this season, plus numerous incentives and $60,000 in deferred compensation.
Mooney during that fiscal year received $832,623 in reportable compensation supplied by UR and an estimated $308,100 in additional compensation from the school and related organizations.
Mooney, who became
Richmond's coach for the 2005-06 season, signed a new contract March 27, 2011, soon after the Spiders had advanced to the Sweet 16 of the NCAA tournament. The contract runs through the 2020-21 season, according to the school, which did not reveal financial terms when it announced the contract.
Smart's base salary is $450,000, and he has supplemental income of $950,000. He also gets $25,000 for university-sponsored radio and television appearances and $25,000 for speaking at or attending events or functions sponsored by the university.
Smart became VCU's coach in 2009 and has led the Rams to four consecutive NCAA tournaments, including the 2011 Final Four.
Mooney and Smart each make more than his school president. At Richmond, Edward L. Ayers' compensation for the fiscal year that ended June 30, 2012, was $836,289. At VCU, Michael Rao's total annual package with deferred compensation and other benefits is $878,655.