UF releases details of Meyer deal
Published: Friday, December 3, 2010 at 5:49 p.m.
Last Modified: Friday, December 3, 2010 at 5:49 p.m.
Florida football coach Urban Meyer's amended contract, which was agreed upon by Meyer and UF in October of 2009, was released by the University Athletic Association on Friday.
The six-year, $24-million contract will pay Meyer about $4 million a year through the 2015 season. Meyer's original contract ran through the 2012 season and paid him about $2 million a year. This is the third time Meyer's contract has been amended.
The new contract, which was signed Oct. 1, 2009, includes numerous incentives, including an annual $1-million retention bonus if Meyer is continually employed by the athletic association on Jan. 31 for each year of the contract.
In the new contract, some of Meyer's incentive bonuses have increased from the previous contract.
Meyer will receive $75,000 for reaching the SEC Championship Game and $100,000 for winning the SEC title. In the previous contract, the bonus totals were $37,500 for reaching the title game and $75,000 for winning the conference title. Also, Meyer's bonus for leading the Gators to a non-BCS bowl game has increased from $37,500 to $50,000.
Meyer's other incentives remain the same, including a bonus of $150,000 for reaching the BCS Championship Game and $250,000 for winning the national title. Meyer also receives $25,000 for being named SEC coach of the year, $50,000 for being named AP national coach of the year, and $50,000 if the Gators finish in the final top-10 poll.
Meyer's base salary for 2010 and 2011 is $250,000. It increases to $275,000 annually for the final four years of the contract. The bulk of Meyer's salary comes from other sources, including speaking engagements, his television show, bonuses for graduation rates, and UF's apparel contract. None of Meyer's salary is paid by the university or the state of Florida.
As per the original contract, Meyer can end the contract without cause with a $500,000 buyout to the university.
Meyer's amended contract makes him one of the highest-paid coaches in college football. Texas coach Mack Brown makes $5,100,000 per year and Alabama's Nick Saban makes $4.63 million per year.