Leitao misses out on unique perks
Yes, coaching at the big-time college level can be a ruthless profession. You don’t win enough and you will quickly find yourself on the unemployment line — a fate that claimed former UVa coach Dave Leitao on Monday, despite being ACC coach of the year just two seasons before.
But before you feel too sorry for the former Virginia coach and the countless others in the coaching ranks who receive their walking papers every year, consider this: Leitao leaves Virginia with a severance check in his back pocket for $2.1 million.
In today’s economy — or any for matter — that’s not a bad chunk of change. Good work if you can get it.
Leitao’s contract paid him $925,000 per year with five-percent annual increases. All told, he banked well over $6 million.
If that sounds like a lot of dough, just think of what Virginia likely is going to be paying its next coach.
Minnesota coach Tubby Smith, who sources have said is UVa’s top choice, is currently under contract for seven years and over $13 million.
Smith will be able to command at least that much from Virginia — and that doesn’t include the money that it will likely take to buy Smith out of his deal.
After the 2004-05 season, Virginia loaned Leitao the $500,000 that was required to buy him out of his contract from DePaul, where he had coached the previous three years.
When Leitao moved to Charlottesville from Illinois, the university gave the coach $10,000 for moving expenses.
Leitao’s contract also called for Virginia to loan him “two late-model courtesy cars” and reimburse him for the annual dues from the country club of his choice.
Leitao received 22 days of paid vacation per year, plus a number of performance bonuses. After winning the ACC coach of the year award after the 2006-07 season and leading Virginia to a share of the regular-season league championship, Leitao earned $45,000 in bonuses.
He also earned a $40,000 bonus for making it to the NCAA tournament that season.
Had Virginia made it to the Sweet 16 — the Cavaliers fell one game short, losing in the second round of the tournament to Tennessee — Leitao would have earned another $60,000.
A Final Four appearance would have netted Leitao $100,000. If Virginia had won an NCAA title, Leitao would have pocketed $150,000.
Unfortunately for Leitao and his UVa career, the school didn’t have to worry about that.
Reader Reactions
Well if everyone were to look at this situation this is the last year that Leito had someone elses recruits. Next year would have been his first year with player that he had recruited. Also look at the roster he had very few seasoned and experienced players. I think he should have been given the opportunity to have one season with all players he recruited and the ones he had now would have some playing time behind them and then see what he would have done. His started were pretty much all first and second year players and had little time at this level.
All the people whom wanted him out are going to feel rather ashamed if who ever takes over takes this group and has a banner year next season. Remember there will be the same kids other than 2 returning next year.
Well best of luck to Coach Leito and I think he is going to make some other school a great coach.
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