The University of Texas has extended a contract worth at least $2.75 million over the next six and a half years to new Director of Swimming & Diving and Men’s Head Coach Bob Bowman. The contract runs from April 1, 2024, through August 31, 2030, and includes a guaranteed annual salary of $400,000 for the first year and a half, rising to $450,000 in the year ended August 31, 2030.
Bowman is also entitled to an “Exceptional Performance Incentive,” to be determined by the Athletic Director “should the Program reach certain levels of achievement.” Interestingly, while Bowman will not be coaching the Texas women –Carol Capitani is the head coach of the women’s program– he has a financial incentive for them to succeed. His “Exceptional Performance” bonus is tied to the performance of the men’s team (up to a maximum of 37% of his salary) as well as the women’s team (up to 30% of his salary).
Annual Compensation
| Period | Salary | Maximum Bonus Possible | Potential Earnings |
| April 1, 2024 through August 31, 2024 | $200,000 | N/A | $200,000 |
| September 1, 2024 through August 31, 2025 | $400,000 | $266,667 | $666,667 |
| September 1, 2025 through August 31, 2026 | $410,000 | $273,333 | $683,333 |
| September 1, 2026 through August 31, 2027 | $420,000 | $280,000 | $700,000 |
| September 1, 2027 through August 31, 2028 | $430,000 | $286,667 | $716,667 |
| September 1, 2028 through August 31, 2029 | $440,000 | $293,333 | $733,333 |
| September 1, 2029 through August 31, 2030 | $450,000 | $300,000 | $750,000 |
| $2,750,000 | $1,700,000 | $4,450,000 |
The agreement comes with other fringe benefits, including the buyout of his previous contract, a car, a $29,000 moving allowance, a $3000 Nike Elite Allowance, spousal travel, tickets to University of Texas athletic events, and a percentage of the net profit generated from summer swim camps.
The contract stipulates that Bowman will report to the Athletics Director, “who will determine Head Coach’s duties and responsibilities,” and that both parties will “meet and formally discuss all aspects of the operation of the Program within 45 days following the conclusion of each season.”
Bowman is contractually first and foremost an educator. He will be in charge of systems and training strategies; Title IX compliance; recruiting; scheduling; hiring and managing his staff; and alumni relations. He must agree to appear in television and radio broadcasts, camps and clinics, as well as promotional activities related to “various manufacturers and distributors to provide athletic equipment, supplies, and accessories” with whom the university enters into agreement.
Bowman is replacing Eddie Reese, whose base annual salary since September 1, 2021 has been $279,425. In the 2020-2021 fiscal year, he earned $246,561 (Reese was supposed to be retired before then); he also received a one-time bonus of $32,864 on October 1, 2021, seven months after the Longhorns won the 2021 NCAA Division I Men’s Swimming and Diving Championships.
Capitani earned $250,000 this season and was granted a contract extension through August 31, 2028.
Bowman will turn 65 in 2030, the year when the current contract is set to expire.
Texas must really appreciate swimming to pay Bowman this much.
Who can announce what an international coach earns in different countries such as France, China, Japan, Australia, GB, etc.?
Now the second highest paid coaching salary in swimming. Also, Carol makes more than $250k.
Who’s highest?
But did they give him a parking spot for the car?
Does Durden regret saying no now?
If he’s already been making money from Texas since April 1st, all the swimmers who are transferring with him should be in the portal now or he’s committing NCAA violations by talking to them or coaching them.
The UT football HC makes $10.3M per year in base salary. That means that the market values football approximately 25x more than swimming.
If I had told you the 25x number without putting dollar amounts on it, would you have said more, less, or the same?
More. Definitely more.
I think a factor of 25 is about right.
I expected more from the Longhorns boosters to be honest