The long-anticipated details of football coach Matt Campbell’s new contract with Iowa State have been officially finalized and made public, cementing his tenure with the Cyclones through December 31, 2032. This pivotal agreement, reached on December 11 and publicly released on Friday, outlines significant financial commitments and strategic incentives designed to bolster the university’s football program.
Under the terms of the new agreement, Campbell’s total annual compensation is set to increase to a substantial $5 million, a notable jump from the $4 million salary he commanded in 2021. This revised compensation package is meticulously structured, comprising a base salary of $500,000, an additional compensation component of $3.2 million, and comprehensive supplemental benefit plans valued at $1.3 million, collectively forming his lucrative annual earnings.
Despite this significant raise, Matt Campbell’s new salary places him outside the top-five highest-paid coaches within the Big 12 Conference, with Colorado’s Deion Sanders currently leading the pack at $10 million. ESPN’s Max Olson highlighted that for Campbell, the focus extends beyond individual compensation; he reportedly prioritizes maximizing the resources Iowa State can allocate to players, particularly with the advent of revenue sharing in college football, underscoring his commitment to the program’s overall well-being.
The formal signing of this landmark contract involved key figures within Iowa State University and Coach Campbell himself. Records indicate that Campbell affixed his signature to the agreement on July 22, while athletic director Jamie Pollard signed on July 11, and university president Dr. Wendy Wintersteen completed the process on July 15. This finalized contract builds upon Campbell’s established legacy, including guiding Iowa State to notable achievements in 2024 and surpassing Dan McCarney’s record with his 57th career victory last September.
The agreement also outlines a series of performance-based incentives designed to reward Iowa State’s success on the field, beginning with the 2025 football season. Campbell is poised to receive $50,000 for any season in which the Cyclones are selected for and participate in a post-season bowl game or are chosen for the College Football Playoff. An additional $50,000 bonus is triggered if Iowa State wins a post-season bowl game or a College Football Playoff game, with a further $100,000 incentive for advancing to the College Football Playoff Championship game. Furthermore, a $50,000 bonus awaits Campbell if he is awarded the Big 12 Coach of the Year honor, including shared recognition.
A critical component of the contract addresses potential departures through a detailed buyout clause. Should Campbell elect to terminate his agreement by resigning to accept a head coaching position at another NCAA Division I “Power four” conference institution prior to the contract’s expiration, he would owe the University liquidated damages totaling $2 million. The contractual language explicitly states: “Should Campbell terminate this agreement by resignation for the purpose of accepting employment as an NCAA Division I A4 head college football coach prior to the expiration or earlier termination of this agreement, or should Campbell assume duties as an NCAA Division I A4 head college football coach prior to the expiration or earlier termination of this Agreement, Campbell agrees the University shall be entitled to liquidated damages in the amount of $2,000,000.”
Conversely, the contract also details the university’s obligations if it initiates termination. Iowa State would be required to compensate Campbell with 100 percent of his remaining Total Compensation for the balance of the term, as if the agreement had not been terminated and all services were fully performed. However, this obligation is subject to mitigation: if Campbell subsequently accepts another football coaching position at an NCAA Division I institution during the remaining term, the monthly installments from the university would be reduced dollar-for-dollar by his average annual compensation from his new role, excluding non-cash benefits. This comprehensive agreement underscores the mutual commitments between Matt Campbell and Iowa State as they navigate the evolving landscape of college football.
