It took seven months, but it was official as Lou Holtz and USC agreed to a contract.
Lou Holtz was inked as the new Head Coach at the University of South Carolina. Holtz’ contract carried a base salary of $150,000 for five years. No buyouts or rollovers were included.
Guarantees for television and radio shows as well as apparel brought the minimum salary up to $600,000. Holtz could also collect bonuses of $25,000 for making a bowl, $50,000 for winning the SEC Eastern Division championship, and $75,000 for winning the National Championship.