After being n the works since December, Arkansas and head coach Bobby Petrino have agreed to the terms of a new contract that will pay Petrino $3.56 million for the next seven years, the Arkansas News is reporting.
Petrino’s buyout for the first two years of the deal is $18 million and will remain above $10 million through the first five years. The buyout then drops to $7.375 million in the sixth year and $3.925 million in the seventh year.
Additionally, the contract mandates that Petrino is not allowed to leave Arkansas for any SEC school, but will pay Petrino $300,000 for winning a national championship and $100,000 for an SEC championship.
he agreement demonstrated a “mutual long-term commitment” between the two.
“Coach Petrino has stabilized and elevated the success of our program,” said UA athletic director Jeff Long. “The mirror image buyout provisions included in the terms of the agreement reflect both parties’ serious commitment to each other and to the long-term success of Razorback Football. That will help our ongoing fundraising efforts and send a clear message to prospective football student-athletes about the bright future of our program.”