Wade bonus forfeiture, Woodward $8M deal before LSU board

(Image Source: LSU)
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BATON ROUGE, Louisiana (AP) -- LSU coach Will Wade will forfeit $250,000 in incentive bonuses and new athletic director Scott Woodward will receive a six-year, $8 million pay package under contracts recommended for approval by the university's board of supervisors.

Wade's contract also has been amended to make it easier for LSU to fire Wade if he is found to have committed major recruiting violations.

Wade is paid about $2.5 million annually and his contract includes a $50,000 bonus for winning the Southeastern Conference regular season title, and $100,000 bonuses each for qualifying for the NCAA Tournament and advancing to the third round. However, Wade was suspended for LSU's regular season finale and the postseason after a leaked transcript of an FBI wiretap quoted Wade discussing a recruitment offer in a way that raised questions about possible NCAA rules violations.

The board meets Friday.