Well, this is… unorthodox.
Mark Richt‘s contract negotiations have been ongoing since at least as far back as 2004 — not really; just the end of last year — but the deal was only finalized and announced today.
Some details where already known. Richt will not be getting a pay raise despite an extension that takes him through 2016. But athletic director Greg McGarity, who also received an extension today through 2017, revealed another peculiar part of the agreement: no buyout.
Yep, Richt could walk away tomorrow and not owe UGA a dime (he currently would owe at least $2 million). Now, if he’s fired at the end of the 2012 season, Richt will be owed $4.8 million from UGA. After that, however, the amount will drop to $2.4 million.
“At the end of the day, I’ve always believed that money should not be a determining factor in people stay,” McGarity said. “That should not be an anchor behind somebody’s neck. Life’s too short. … There’s no question that Mark Richt wants to be at the University of Georgia. He and I are in a good place here.”
Richt has been linked to other jobs before, most notably Texas A&M following Mike Sherman‘s termination, but I don’t see any way he leaves on his own.