Arkansas coach Bobby Petrino has agreed to a new contract with the Razorbacks.
And by the looks of it, it means Petrino should be around Fayetteville for some time.
The quick items worth nothing before I start writing a story for tomorrow’s papers:
• Petrino’s salary will increase to an average of $3.56 million over the terms of the contract.
• The new contract now spans through 2017. The previous one ran through 2014.
• There is a non-compete clause in the contract to include the entire SEC now. It used to be the SEC West.
• Petrino has more lucrative incentives. For instance, the BCS non-title game berth paid $75,000 according to the previous contract. It will go up to $125,000 under the new agreement. Winning a national title will be worth $300,ooo.
But that’s not the astounding part of this deal.
What is, you ask? The buyouts.
It practically signals Petrino should be in Fayetteville for awhile because I’m not sure what schools would – or could – be interested in paying these amounts. Or if Arkansas would ever be interested in firing Petrino for these amounts.
Year Foundation Guaranty Coach Repayment
2011 $18 million $18 million
2012 $18 million $18 million
2013 $17.975 million $17.975 million
2014 $14.525 million $14.525 million
2015 $10.825 million $10.825 million
2016 $7.375 million $7.375 million
2017 $3.925 million $3.925 million
This contract is the equivalent of dropping a bomb, and we all know BMFP ain’t skeered to …