University of Illinois Trustees approve $2.4 million contract for Bill Cubit

In case there was still any doubt, Bill Cubit will indeed be coaching Fighting Illini football this upcoming Fall. University of Illinois trustees met in Chicago on Thursday, and official approval of Cubit's new two-year, $2.4 million contract was on the agenda. The two sides agreed to the deal in principle back on November 28th.

Of course, approval of this deal didn't come without voiced concerns from attendees at the meeting. Rick Mitchem, who was captain of Illinois' 1977 team, asked the Board of Trustees to reject Cubit's new deal while describing the athletic department as an "embarrassment."

"We don't think that Coach Cubit deserves to have a permanent contract. He had an opportunity to win games this year. He finished 5-7. If he finished 7-5, I wouldn't be here."

Luckily for Mitchem -- and any other fans sharing his opinion -- it wouldn't be hard for Illinois to make another coaching change relatively soon because Cubit is officially the lowest paid head football coach in the Big Ten.

Interim Chancellor Barbara Wilson informed the News-Gazette earlier this week that the minimum buyout for Cubit's contract would be $250,000. In the event Cubit is fired during the 2016 season, he'll receive a pro-rated amount of his total $1.2 million compensation on top of that figure.

UPDATE (12:00pm)

The money pool for Illinois assistant coaches also increased to $2.4 million on Thursday. Illini Board took detailed a look at the salary breakdown, and the most notable change is a 396% increase for Ryan Cubit. You should absolutely read that post, but for now here's what Illinois will be paying their coaches in 2016.

• Mike Phair - $440,000
• Ryan Cubit - $400,000 (!!!!!)
• A.J. Ricker - $330,000
• Paul Williams - $285,000
• Jeff Hecklinski - $220,000
• Tim McGarigle - $215,000
• Al Seamonson - $185,400
• Mike Bellamy - $180,000
• Nathan Scheelhaase - $160,000