Georgia Football

Breakdown of Kirby Smart Contract Extension

May 10, 2018
1,569

ATHENS - The details of Georgia’s significant commitment to Kirby Smart was unearthed Friday afternoon. 

The third-year coach and the institution agreed to a three-year extension of the current contract through the end of the 2024 season. The contract is now worth an agree-to $49 million over seven years, but the two parties have agreed that Kirby has the ability to earn an additional “Performance Bonus” of $925,000 a year with incentives, which is down substantially from the original agreement. 

A reworked clause in the amendment to the agreement states that Kirby would be due 65% of any remaining compensation (base salary, media compensation and equipment compensation) should he leave as head coach or be terminated at any time during the agreement. 

Before the amendment to the agreement between Kirby and UGA, the two agreed that the coach would still be paid a particular dollar amount per season, but the new language simplifies the wording moving forward. Kirby would be due that money in two types of payments. The first a lump sum of 20% of the amount due. That payment would be due “within 60 days of termination”. The rest of the balance of the payment would be paid by UGA to Kirby in monthly installments until the end of the amended agreement - December 31, 2024. 

Should Kirby terminate the agreement he would now owe UGA substantially more than in the past. His payment back to UGA moves from:

In 2018 - from $2,500,000 to $6,000,000
In 2019 - from $2,000,000 to $6,000,000
In 2020 - from $1,500,000 to $4,000,000
In 2021 - from $400,000 to $3,000,000

2021 was the previous end of contract between the two. Kirby, with the previous contract, only had to pay his base salary back to UGA if he decided to leave. 

In the final three years of the contract Kirby would have to pay the following amounts if he left his position.

In 2022 - $2,00,000
In 2023 - $1,00,000
In 2024 - $0

Kirby’s total compensation for each year is as follows:

Year Total Base Media Nike
2018 $6,600,000 $500,000 $4,000,000 $2,100,000
2019 $6,700,000 $500,000 $4,050,000 $2,150,000
2020 $6,800,000 $500,000 $4,100,000 $2,200,000
2021 $7,000,000 $500,000 $4,200,000 $2,300,000
2022 $7,200,000 $500,000 $4,300,000 $2,400,000
2023 $7,300,000 $500,000 $4,350,000 $2,450,000
2024 $7,400,000 $500,000 $4,400,000 $2,500,000

The two agreed to increase Kirby’s pay for the Bulldogs’ being in the top 33% of the SEC in graduation success rate and academic progress rate from $50,000 to $75,000. UGA is to provide Kirby “with the option to purchase 100 tickets to any postseason bowl game (including the College Football Playoff) in which” UGA plays. The lowest face value of a ticket to Georgia’s game with Alabama in January was $475. Purchasing 100 tickets at that level would cost Kirby $47,500. 

Kirby and UGA have also agreed to compensation for the coach in the form of air travel. UGA “shall furnish” Kirby a “light jet” for Kirby’s “non-business” travel for a maximum of 25 hours of flight time per calendar year.” Flight time not used in a particular year can’t be rolled over to the next year according to the amended agreement. 

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