Bonus Tracker: Here's What Indiana Coach Curt Cignetti Earned During 2024 Season

Here are the details on the contract Curt Cignetti signed as Indiana's football coach, including bonuses he's earned so far and buyout information.

Indiana Hoosiers head coach Curt Cignetti walks the sideline against Western Illinois at Memorial Stadium. / Trevor Ruszkowski-Imagn Images

(updated Monday, Dec. 23 at 9:45 a.m.)

BLOOMINGTON, Ind. – Indiana football had the best season in program history in coach Curt Cignetti's first year, going 11-2 and reaching the College Football Playoff. That success triggered several bonuses in Cignetti's contract at Indiana.

Here are the details of Cignetti's contract at Indiana, the bonuses he's earned so far, the other bonuses he could earn moving forward, plus his buyout information, according to the memorandum of understanding obtained by Hoosiers on SI through public records requests.

The Curt Cignetti contract

Cignetti agreed to a six-year contract starting on Dec. 1, 2023 and running through Nov. 30, 2029, with an annual base salary of $500,000. In Year 1, he will earn $3.5 million in annual outside, marketing and promotional income.

However, Indiana announced on Nov. 16 that it agreed to a new eight-year contract with Cignetti, which includes an average annual compensation of $8 million, an additional annual $1 million retention bonus and an $11 million salary pool for on-field staff. Cignetti’s new contract runs from Dec. 1, 2024, thru Nov. 30, 2032, and full details can be found HERE.

Cignetti's incentive bonuses

BONUS 1, BOWL APPEARANCE: The bonuses in Cignetti's second contract remained the same as his first, with one exception. His first contract states that each bowl appearance triggers a one-year extension; a $250,000 increase to the remaining outside, marketing and promotional income payments; and a $500,000 increase to the budget for football staff personnel. His new contract does not include those bonuses.

Instead, there was potential for an annual bonus of $200,000 if Indiana made a bowl appearance that was not part of the College Football Playoff, plus an additional $50,000 bonus if Indiana won that bowl game. However, Indiana reached the College Football Playoff, so this bonus does not apply.

BONUS 2, BIG TEN WINS: Cignetti received a bonus after Indiana defeated Michigan State 47-10 and improved to 9-0 overall and 6-0 in Big Ten play. His contract includes a $150,000 bonus for the sixth Big Ten win.

BONUS 3, TOP BIG TEN FINISHES: Indiana finished in a tie for second place in the Big Ten standings at 8-1, with a 38-15 loss at Ohio State. Penn State won the tiebreaker over Indiana and will face Oregon in the Big Ten championship. With a second-place finish in the Big Ten, Cignetti will receive a $500,000 bonus.

BONUS 4, PLAYOFF APPEARANCES: Indiana's 11-1 regular season record was enough to receive the No. 10 seed in the 12-team College Football Playoff. Cignetti's contract includes several CFP-related bonuses.

Indiana's first-round appearance in the College Football Playoff resulted in a $500,000 bonus for Cignetti. The Hoosiers lost 27-17 to No. 7 seed Notre Dame, so the bonuses stop there.

But if Indiana had advanced, reaching the CFP quarterfinals would have led to a $600,000 bonus. Cignetti would have received a $700,000 bonus if Indiana appears in the CFP semifinals. That bonus would've increased to $1 million if Indiana was the national runner-up and to $2 million if Indiana won the national championship. Those bonuses are not cumulative, and the highest finish applies.

BONUS 5, COACHING AWARDS: Cignetti was named Big Ten Coach of the Year by the coaches and media voting panel, so he will receive a $50,000 annual bonus. There is a maximum of $50,000 for this category in a single season.

His contract also includes an annual bonus of $100,000 if he wins one of the following national coach of the year honors: Associated Press, Paul "Bear" Bryant, Sporting News, Walter Camp, Maxwell Football Club or ABC/ESPN.

So far, Cignetti has won six national coach of they year awards: Sporting News, Eddie Robinson, Associated Press, Walter Camp, AFCA and Home Depot. There is a maximum of $100,000 for this category in a single season.

Buyout and termination language

Cignetti’s buyout has increased significantly in his new contract with Indiana. If he resigns from employment prior to the end of the agreement, he’ll pay the university the following:

• Between December 1, 2024 - November 30, 2025 – $13,000,000
• Between December 1, 2025 - November 30, 2026 – $10,000,000
• Between December 1, 2026 - November 30, 2027 – $9,000,000
• Between December 1, 2027 - November 30, 2028 – $8,000,000
• Between December 1, 2028 - November 30, 2029 – $6,000,000
• Between December 1, 2029 - November 30, 2030 – $3,000,000
• Between December 1, 2030 - November 30, 2031 – $3,000,000
• Between December 1, 2031 - November 30, 2032 – $1,000,000

Compared to Cignetti’s first contract, that is an increase of $5,000,000 within the first time frame, $4,000,000 within the second and similarly throughout the rest of the deal. 

A new factor in Cignetti’s contract is that the university will pay him 85% of the amount owed under his agreement, if his employment is terminated without cause. If Indiana appears in the Big Ten championship game or the College Football Playoff at any point during the contract, including the 2024 season, that figure increases to 100% for the remainder of the term. 

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