COLUMBUS, Ohio (WTVN) -- OSU Athletics Director Gene Smith will be around through at least the year 2020. He also gets the title of vice president in addition to his continuing duties as director of athletics, pending approval by the Board of Trustees later this week.

Under terms of the agreement, Smith continues to report directly to the university president. Smith’s base salary, effective July 1, 2013, is $940,484 per year, and he is eligible for standard, university wide merit-based salary increases each year. His compensation is paid entirely through athletics department revenues, using no tuition or tax dollars.

In addition to overseeing the university’s athletics programs, Smith now has joint oversight responsibility with the Office of Business and Finance for the Business Advancement Division of Ohio State. Business Advancement includes: the Jerome Schottenstein Center, the Blackwell Inn, Drake Union, the Fawcett Center and the Office of Trademark and Licensing Services. Smith also has responsibility for the Nationwide Arena Management agreement to increase existing revenue streams and pursue new revenue opportunities through creative collaboration and innovation. In addition, he will partner with the Office of Business and Finance for responsibility of the university’s affinity agreements.

"Gene Smith is one of this country’s most accomplished collegiate athletics directors, with an exemplary record of national leadership and service,” said OSU Interim President Joseph Alutto. “Thanks to his dedication to student success, graduation success rates of Ohio State’s student-athletes have risen by 11 percentage points, to 89 percent. His vision and commitment to excellence have made Ohio State’s Department of Athletics one of the strongest in the nation. Expanding his leadership reach to work more closely with other university functions can only strengthen us all. ”

Smith became Ohio State’s eighth athletics director in 2005. Since then the Buckeyes have won 10 team national championships, 60 individual national championships and eight National Players of the Year; produced 662 All-Americans, 22 Olympians, 53 Big Ten Conference team championships, 149 Big Ten Conference individual champions and 70 Big Ten Conference athletes of the year as well as 471 First-Team and 361 Second-Team All-Conference selections and numerous coaching awards.

“I am grateful for the opportunity to lead the athletics program at a university with a national reputation for excellence that encompasses a broad-range of areas,” said Smith. “Working with the coaches, athletics staff, faculty and staff across the university enables us to provide positive experiences for the young people we serve, while finding ways to help them become global citizens impacting the world,” he continued.

“Ohio State is an amazing institution and I am proud to be a Buckeye.”

Smith is credited for helping raise over $400,000,000 for the university. 

The athletics department is completely self-supporting; it receives no state tax or student tuition dollars. In fiscal year 2013, the department transferred nearly $30 million in assessments to the university, including more than $16 million in grant-in-aid reimbursement.