South Carolina will owe men’s basketball coach Frank Martin $3 million as part of a contract buyout after firing the 10-year Gamecocks coach Monday.
The dismissal comes after a second straight offseason on the hot seat. Martin and the Gamecocks negotiated for nearly a month following last year’s 6-15 season during the COVID-19 pandemic, and the school would have owed Martin a $6.5 million buyout had it terminated his contract after last season. Instead, the Gamecocks and Martin agreed to terms on a two-year extension running through the 2024-25 season and lowered his buyout following the 2021-22 season from $3.3 million to $3 million.
That adjustment will save the university $300,000 now that Martin has been let go. The university has 180 days to pay Martin the buyout money, according to the most recent contract amendment.
The dismissal comes after a second straight offseason on the hot seat. Martin and the Gamecocks negotiated for nearly a month following last year’s 6-15 season during the COVID-19 pandemic, and the school would have owed Martin a $6.5 million buyout had it terminated his contract after last season. Instead, the Gamecocks and Martin agreed to terms on a two-year extension running through the 2024-25 season and lowered his buyout following the 2021-22 season from $3.3 million to $3 million.
That adjustment will save the university $300,000 now that Martin has been let go. The university has 180 days to pay Martin the buyout money, according to the most recent contract amendment.
