I honestly don't care what we're paying him. As far as I'm concerned, it's just carving out room in the budget for the next guy (if it comes to that).
Agreed. He's keeping those budgeted dollars warm.
I like the message we're sending. Win a conference title, and you'll get paid more.
It's the principle of the thing. If he sucks and we fire him, whatever, but we'll give him more immediately if he wins.
I approve of that strategy. Let's be up near the top 3-4 schools in the conference in terms of salary.