Federal tax returns from Duke University show that Mike Krzyzewski received about $13.7 million in pay for 2020, his penultimate full calendar year as the men’s basketball coach at the university.
Krzyzewski has nearly $3.3 million in salary, $2 million in bonuses, just over $7.2 million in other reportable compensation, and more than $1.1 million in retirement and other deferred compensation, according to a source.
Included in the whole sum is about $1.3 million in deferred pay from earlier years, bringing the total to around $12.4 million in net compensation for 2020 Representative Bill Pascrell, D-N.J., requested information on the salaries of Duke’s coaches earlier this year in a letter to a number of other public and private universities.
Pascrell also questioned how well Duke’s athletics programs fit with the university’s educational mission, which allows it to be tax-exempt. As long as federal tax breaks are used to pay more than $13 million for a single season of work, Blue Devils fans and foes alike should be skeptical about how federal tax breaks might be utilized “House Ways and Means Subcommittee on Oversight Chair Rep. Steve Pascrell said in a statement.
There were $1.2 million to $1.3 million deferred each year on Duke’s past four tax returns for Krzyzewski’s compensation total, which was reported on Duke’s tax returns for the preceding year.
Coaching at Duke for 42 years has always been a high priority for Coach K, and his pay has reflected this dedication to the university’s athletics and academics, as well as his many other communities and national service endeavors.” Schoenfeld referred to the $7.2 million in other reportable compensation amount and the amount reported in a previous year, writing: “One-time payments of deferred compensation… accumulated over previous years are included in this report.
Payments made in 2019 but reported on preceding (returns) include severance paid in 2020.” At the end of the year, Pascrell said that he had written letters to both university presidents at Louisiana State University and the University of Southern California to raise doubts about how their athletic teams are “furthering educational interests.”