FSU AD Randy Spetman gets one-year extension
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Randy Spetman has agreed to a one-year contract extension to remain as athletic director at Florida State through Feb. 14, 2014.
The contract, obtained by Warchant.com in a public records request, was signed by Spetman and FSU President Eric Barron on Aug. 8. The deal extends his current contract - which was scheduled to end in February 2013 - through February of 2014. Spetman's base salary will remain at $350,000 consisting of $200,000 in state funds.
Barron and Spetman were not immediately available for comment. According to the the FSU athletic office, Spetman was at a booster function in South Carolina on Wednesday.
Spetman was hired by Florida State in February 2008 to replace former FSU AD Dave Hart and has been at the helm as FSU completed its best run of finishes in the U.S. Sports Academy's Director's Cup standings. The Seminoles finished No. 5 in the Director's in 2011-12 following a No. 9 finish in 2010-11 and a No. 5 standing in 2009-10.
Spetman did receive a bump in his incentive package when when it comes to the Director's Cup. He will receive $20,000 if FSU finishes in the top 15 in the Director's Cup standings, $60,000 for a top 10 finish, $100,000 for a top five finish and a $200,000 bonus if the Seminoles finish atop the Cup standings. Those figures are doubled from his previous contract.
Spetman's bonuses for graduation rate will remain the same Spetman receives a $10,000 for a graduation rate of 50-64 percent, $20,000 for a rate of 65-75 percent or $50,000 for a rate of 76 percent or higher.
Spetman is also in line for a $10,000 bonus if FSU student athletes post a cumulative grade point average of 2.5-2.64, $30,000 for an average of 2.81-2.99 and $80,000 for an average of 3.0 or above. Only the $80,000 bonus doubled from Spetman's previous contract.
"It's hard to argue against the data," Barron said of Spetman's performance in March during an interview with Warchant.com. "So what do you have? The other AD's elect them as their chair nationally - that's an interesting thing that occurs. All these teams are successful. The highest two years in our history (before 2011-12). No compliance issues. A lot of academic success stories. That's a pretty good record."