After a whirlwind few days filled with speculation, the Jacksonville Jaguars have made a definitive move by appointing Tampa Bay’s offensive coordinator, Liam Coen, as their head coach. Coen, who is 39, will be earning over $11 million annually with the Jaguars. Initially, he turned down the offer in favor of a salary increase from Tampa Bay, which would have placed him as the highest-paid coordinator in the league with an annual salary exceeding $4 million. However, following Jacksonville’s decision to part ways with their general manager, Coen had a change of heart.
Speaking at his introductory press conference, Coen explained, “As I dug deeper and gathered more insights, it became increasingly evident that this opportunity was one in a million for so many reasons. Ultimately, the best decision for myself and my family was clear.”
Collegiate sports, however, paint a more complex picture. The introduction of name, image, and likeness (N.I.L.) deals has injected substantial financial benefits for players but somewhat shifted the financial dynamics for head coaches. Take Georgia’s Kirby Smart, who earns over $13 million per year, or Ohio State’s Ryan Day, who recently secured an extension averaging $12.5 million annually. Yet with hefty player payrolls hitting $13 million to $20 million for teams aiming for the College Football Playoff, athletic directors are refining their financial strategies.
For example, Ohio State splashed out $2 million last season for Chip Kelly, a seasoned head coach, to serve as their offensive coordinator, and the team clinched the national championship. In response to their semifinal loss, Penn State recruited Ohio State’s defensive coordinator, Jim Knowles, offering him $4 million a year, hoping he can lead the Nittany Lions to similar success.
“It’s less stressful being an NFL coach these days,” noted Paul Finebaum, who hosts a program on the SEC Network. “You’ve got a fixed roster, a salary cap, and a clearly defined offseason. College coaches, on the other hand, have to juggle year-round recruitment and monitor the transfer portal to retain their players.”
