Friday evening just before 10:00 p.m., at least two local news stations reported that Arkansas Razorbacks head coach Bobby Petrino had agreed to a contract extension with the University of Arkansas, thus effectively putting to rest rumors that he might be leaving for the Florida job.
That news was officially confirmed late Saturday afternoon with the release of the following from Kevin Trainor and UofA Athletic Public Relations:
“The University of Arkansas and Bobby Petrino have agreed upon the terms of a new seven-year contract between the University and the Razorbacks’ head football coach that will extend through the 2017 season, Vice Chancellor and Director of Athletics Jeff Long announced on Saturday. The new agreement will supersede the remaining four years of the original employment agreement and will run through Dec. 31, 2017.”
The official release goes on to state that Petrino’s average annual compensation will be raised to a total of $3.56 million a year for the next seven years during the length of the agreement, for a total of $24.9 million. Also according to the statement, “The new agreement will also expand the non-compete clause in Coach Petrino’s current agreement to include all Southeastern Conference institutions, rather than being limited to western division institutions only.”
The contract also includes an $18 million mutual buyout clause in 2011-12 should the university fire Petrino or he leave the school. The buyout is lowered by $25,000 in 2013 and falls to $14.5 million in 2014 and $10.8 million in 2015. It’s $7.4 million in 2016 and $3.9 million in the final year of the deal.
”The mirror image buyout provisions included in the terms of the agreement reflect both parties’ serious commitment to each other and the long-term success of Razorback Football,” Long said.
Seven more years at $3.56 million per? Extremely heavy mirror image buyout provisions? Among the Top 10 highest paid FBS coaches in all the land? A non-compete with not only the SEC West but the SEC East as well (psst – yes, that means Florida, too)?
We’d like to take this opportunity to give this little tip to the talking heads and the haters: crow usually washes down easier with a frosty-cold pint of STFU. Or, so we’re told. In the mean time, have a swig of this little clip from the “experts,” which reminds us here at woopig of a fine wine – it just gets better and better with the passage of time:
In related news, Gregg Doyel wept. And made a poopie in his diaper. Someone change him, please.
Read more and discuss here.