Details of new Lobo football coach Bronco Mendenhall's term sheet with UNM

Bronco Mendenhall walked into the Pit on Thursday morning to a familiar fight song and some welcoming cheers.

Maybe not as loud as the ovation he received on the center of Bob King Court when introduced to more than 10,000 fans in that same building during the Lobo men’s basketball game, but it was clear Thursday the new football coach for the University of New Mexico was home.

And while talk in his introductory press conference focused on broad stroke visions for the program’s future and thoughtful summations of his journey to this point in his career and life, there were also some very specific, fine point details that emerged Thursday spelling out exactly what and for how long the University of New Mexico will be paying the 33rd coach of Lobo football.

According to a Memorandum of Understanding, or term sheet, signed by Mendenhall and Athletic Director Eddie Nuñez on Tuesday, and reviewed by the Journal on Thursday, UNM will pay the 17-year head coaching veteran an annual total compensation of $1.2 million with up to $470,000 in incentives of the five-year term of the deal that will run through Dec. 1, 2028.

“I told y’all, we’re not playing anymore,” Nuñez said.

Danny Gonzales, who was fired Nov. 25 after four seasons at UNM, earned about $700,000 per year.

As for how Mendenhall’s compensation package came about, one that makes Mendenhall the highest paid public employee in the state of New Mexico, Nuñez said it is merely a matter of trying to catch up to Mountain West Conference and industry standards in the ever-changing world of college football.

And it’s something the university has been preparing to do for some time, even starting a year ago when they upped the assistant coaching salary pool for the program in an effort to attract, and retain, better talent.

As the Journal has reported each of the past two years, UNM’s Lobo Club has enjoyed consecutive years of record setting fundraising.

“We’ve been watching what’s been happening in our industry for the last several years,” Nuñez said. “I go back to when I first arrived here, we had a budget that was never balanced. And over the last six years, we’ve balanced our budget. We’ve also grown it, which is shocking to people, but we had to do it and we’ve done it the right way. We’ve also grown our fundraising more than this department’s ever had.”

It’s unclear exactly when the official contract will be signed, but here are some of the details we know now from the term sheet:

Show me the money

• Annual guaranteed compensation: $1.2 million

Bonuses/Incentives

• Up to $100,000 in Mountain West-related bonuses (Coach of the Year, league championship, etc.)
• Up to $300,000 in national-level bonuses (CFP Playoff appearance, National Championship, National Coach of the Year, etc.)
• Up to $20,000 in team academic incentives
• Up to $50,000 in ticket sale bonuses that must be split 50/50 between Mendenhall and reinvesting into the program

Odds & ends...

• $25,000 moving allowance
• Courtesy vehicle
• Country club membership
• Tickets to football and basketball games

Terminating the contract

If Mendenhall is fired with cause, UNM is not liable for any further compensation.

On the other hand, if UNM fires Mendenhall without cause, it will owe him:

Fired in first two years:

• 100% of remainder of contract,

Fired in year three:

• 80% of remaining contract,

Fired in year four:

• 65% of remaining contract,

Fired in year five:

• 50% of remaining contract.

Mendenhall agrees to not seek other employment without prior notice.

If Mendenhall breaks the contract or accepts another position, he would owe UNM:

Leaves in year one:

• $3 million

Leaves in year two:

• $2 million

Leaves in year three:

• $750,000

Leaves in year four:

• $500,000

Leaves in year five

• $300,000

Until the ink dries...

As the two parties so far have not yet crossed all the Ts and dotted all the Is on an official contract, the term sheet released Thursday states: “While these terms are contingent upon our executing an employment contract, I trust that every reasonable effort will be made to mutually conclude that process within 60 calendar days of your start date. However, this Memorandum of Understanding will serve as the contract if a formal contract is not signed within 60 calendar days. It is understood and agreed that the employment contract will supersede these terms and conditions.”