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Isiah Thomas' FIU Contract Worth $1.29 Million

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Apr 23, 2009 2:04 pm US/Eastern

Isiah Thomas' FIU Contract Worth $1.29 Million

No salary will be received for the first year of the contract

MIAMI (CBS4) ― New Florida International University head basketball coach Isiah Thomas will pull in a little less than $1.3 million in base salary if he stays at the school for five seasons. Thomas was recently introduced as the coach after he finished off a disastrous run with the NBA's New York Knicks as both head coach and team president.

Thomas' final compensation is yet to be determined because of the potential to earn incentives and other compensation he could receive. He will not take a salary in his first year, but will be reimbursed for temporary housing contests.

The salary will range from a quarter of a million in the second-year of the deal to $350 thousand in the fifth year. If Thomas stays all five season, he'll receive a $100 thousand bonus.

(© 2009 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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