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Gus Malzahn’s deal to become UCF’s head coach looks a lot like the original contract he signed at Auburn in 2013.
The former Auburn coach on Monday agreed to a five-year, $ 11.5 million contract to become UCF’s next coach, according to a copy of the signed memorandum of understanding obtained by AL.com via a request from public records. Malzahn will earn $ 2.3 million a year over five seasons, which is identical to the terms of his first contract with Auburn.
His contract with UCF, where he was featured as head coach Monday afternoon, includes $ 500,000 in base salary with $ 1.8 million in media and speaking engagements, as well as approval fees. It also includes up to $ 500,000 in incentives per year, with bonuses for academic achievement – including a team GPA of over 3.0 and an annual APR of 980 or more – and performance-based incentives. On-field bonuses include attending the AAC Title game, winning the AAC Championship, earning a Bowl berth, appearing in a New Years Six Bowl game, appearing in the college football playoffs , victory at a bowl game, victory at the CFP national championship ending an unbeaten season, the top 25, top 15 and top 10 in the CFP standings, as well as bonuses for winning conference honors or National Coach of the Year.
Malzahn’s deal with UCF includes a buyout clause if it were to be terminated by the university without cause. If UCF were to part ways with Malzahn by the end of the 2021 schedule, the school would owe him 90% of the contract value – $ 10.35 million – to be paid in bimonthly installments until the end of the term. duration of contract, subject to mitigation. If he were to be made redundant on or after January 1, 2022, UCF would owe him 75% of the remaining value of his contract – at this point, $ 6.9 million, also subject to mitigation.
If Malzahn left UCF for another job before his contract ended, he would have to school buyout his contract within 60 days of the contract being terminated. This includes $ 7 million if it’s before the end of 2021, $ 5 million if before the end of 2022, $ 3 million if before the end of 2023, $ 2 million if before the end of 2024 and 500,000 dollars if after December 31, 2024 but before the start of the 2025 regular season.
Malzahn’s payments from UCF come on top of the $ 21,450,000 buyout Auburn owed him, half of which was due last month, as there was no mitigating clause in his 49-year seven-year deal. million dollars he signed with Auburn in late 2017.
Tom Green is an Auburn Beat reporter for Alabama Media Group. Follow him on Twitter @Tomas_Verde.
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