“The mirror image buyout provisions included in the terms of the agreement reflect both parties’ serious commitment to each other and the long-term success of Razorback Football.”
-Arkansas athletic director Jeff Long
Dec. 11, 2010
Even in the crazy world of college football, Arkansas coach Bobby Petrino’s contract is unique.
Petrino, just completing his fourth season with the Razorbacks, is signed through 2017 at a clip of $3.56 million/year, plus bonus clauses in tune to $300,000 for winning the BCS, $150,000 for playing in the BCS title game and $125,000 for just getting in a BCS bowl game.
Phenomenal numbers, sure, but for a football nomad like Petrino, it’s the buyout clause that makes you think he might be in Fayetteville for a long time.
Under the parameters of Petrino’s new contract — signed last December after the Florida job came open and Petrino quickly became a candidate to replace Urban Meyer – he owes the school $18 million if leaves this year (it goes down a paltry $25G in 2013), $14.5 million if leaves in 2014, $10.8 million in 2015, $7.4 million in 2016 and $3.9 million in 2017, the final year of the deal. Conversely, the school owes Petrino the same amounts if they were to fire him in any of those years.
So if you want to find Bobby Petrino from now until 2017, just look on the Arkansas sideline. Or in the Razorbacks’ new, $35 million football complex – nicknamed, of course, “Bobby’s Bunker.”
Click here if you’d like to get a look at the contract itself.