Georgia football coach Kirby Smart’s 10-year contract worth a total of $112,500,000 is fully guaranteed for the next five seasons.
If Smart is fired without cause at any time during the first five years, he will receive a 100 percent unpaid contract by Dec. 31, 2031, according to the contract amendments received in a public records request effective Jan. 1 on Thursday. Pay the total contract amount.
If the termination occurs on or after January 1, 2027, 85% of his total compensation will be owed to Smart.
His previous deal, which ran until 2024, stipulated that if Smart was fired without cause, he would receive 65% of his remaining total compensation. Last year, he received more than $7 million before the bonus, and it increases every year.
Georgia would owe Smart $14.6 million if he was fired on Dec. 1. If they fired him on December 1 of this year, he would be owed $102 million.
After leading Georgia to its first national championship since 1980, Smart’s salary increased significantly to $10.25 million in his first year starting this year.
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If Smart resigns, he will owe Georgia the following:
– $5 million anytime before the end of calendar year 2024.
— $4 million for calendar years 2025 to 2027.
— $3 million for calendar year 2028
— $2 million for calendar year 2029
— $1 million in calendar year 2030 or 2031
Smart is eligible for a whopping $1.525 million this season, up from $1.15 million previously.
Smart will get $100,000 for the SEC championship game, and $300,000 if Georgia wins.
Entering the College Football Playoffs is worth $500,000, winning a semifinal will bring in an additional $250,000, and a national championship win will be another $250,000, for a total of $1 million. Other bonuses come from the academic performance of his team.
Smart provides family or guests with up to 50 hours of light jet flight time per year for non-business travel. That’s double his previous contract. The 2018 benefit is said to be worth about $130,000.
Smart, who will enter his seventh season with Georgia in 2022, has already played in two national championship games and won an SEC title.