More than ever before, FAU is spending money.
It was reported in February that the school received more than 18,940 applicants for the fall 2011 semester, a record for the university. Knowing such, the school has poured money into various entities: a new 30,000-seat on-campus stadium, new dorms and a $20 million College of Medicine building.
But there’s a ceiling on the amount of discretionary income the school is armed with, meaning certain items are going to be left off.
At the end of the next basketball season, men’s head basketball coach Mike Jarvis will have an expired contract — it officially ends on May 28, 2012. Jarvis has been paid $175,000 per year since he signed his original deal in 2008.
Because Jarvis was out of coaching for five years, and subsequently arrived in Boca Raton with a bit of a stained reputation, FAU secured a favorable deal. Recently resigned Dean Manjunath Pendakur made $207,050 a year. Howard Schnellenberger, FAU’s football coach, makes more than double Jarvis’ pay, raking in $400,405 a year.
Yet, coming off FAU’s most successful basketball season ever, the man who hired Jarvis, Athletic Director Craig Angelos, recognizes a need for a pay raise.
“I told him I wanted to look at extending it starting now,” said Angelos. “And extend it maybe another three years from that; look at some kind of raise.”
What kind of raise, though, is uncertain.
Angelos said the athletic department budget and the budget for the football stadium are now one and the same, which essentially means less money for the athletic department.
“There’s probably more uncertainty on the budget going forward than ever before,” admitted Angelos.
Last week, the University of Miami head coach Frank Haith bolted from South Florida to coach at the University of Missouri. Haith reportedly made more than a million dollars per season, and in the aftermath of his departure, speculation swirled that perhaps Jarvis could take over.
It’s a fight that FAU won’t even step into the ring for.
“If they were interested in him, that’s a big disparity in money versus what we’re paying now,” said Angelos about the possibility of Miami plucking Jarvis. “I’m sure that’s something that wouldn’t be too hard of a decision for him. Those type of situations make it difficult and we know we can’t compete with some of that kind of money.”
For now, Angelos and Jarvis have had preliminary talks regarding his future. But it would appear that unless Jarvis is willing to take less than what he can get elsewhere, FAU may end up being in the market for a new basketball coach in May 2012.
