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Gus Malzahn New Contract Details
In July, Athletic Director Terry Mohajir and head coach Gus Malzahn agreed to a contract extension that saw Malzahn’s salary nearly double this season and established security at the head coaching position.
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"As of earlier this year Malzahn would’ve been owed just under $3.6 Million if fired without cause, that number currently stands at $18 Million, lowering each year as it’s a percentage of guaranteed compensation.
Buyout
--By UCF (termination without cause by UCF): 75% of guaranteed compensation, coach has a duty mitigate buyout amount (buyout offset based on new employment, dollar for dollar)"
Ladies and Gents, hear my words and understand them later.... You better hope and pray Gus turns this thing around and is successful enough at UCF to be hired away or end up being the winningest coach in UCF history.
Otherwise, UCF will be forking over $18 million (or less) to pay Gus not to coach. Gus is owed 75% of his remaining contract if terminated early. This is the same contract deal Gus had at Auburn (with the lone exception being his buyout figure is mitigated by any new employment).
Please, please, please listen and understand: It is CHEAPER to pay money to make Gus successful (building infrastructure, increasing recruiting staff, raising assistant coaching salaries, etc.) than it is to fire Gus and start over with a low budget head coach and staff.
If you don't believe me, just look at Auburn.
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How much does Auburn owe Gus Malzahn and former staff in buyouts?
Bryan Harsin completed his Auburn staff on Thursday, with only one assistant coach carrying over from Gus Malzahn's staff. Here's a breakdown of how much the program owes Malzahn and his assistants in buyouts.
"When Auburn gave Malzahn a new seven-year, $49 million contract at the end of the 2017 season, it came with significant buyout, with 75 percent of the deal’s value fully guaranteed. At the time of his firing last month, that buyout was down to $21,450,000, half of which was due within 30 days. That means last week Auburn forked over a $10,725,000 payment to its now-former coach, with the remaining money due in four equal annual installments."
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