ATLANTA -- Exhale, Gator fans, your football coach finally signed his new contract.
Florida released the details of the restructured deal on Tuesday. The contract confirms what everyone already knew: Meyer is one rich dude. His base salary is $3.25 million per year through 2012 but the contract also awards Meyer retention bonuses, which would total $3.75 million if he sticks around for the remainder of the deal.
Meyer agreed to the contract last June but it took a while to iron out the specifics of the deal, according to Florida athletic director Jeremy Foley.
Base salary through 2012: $3.25 million
Signing bonus: $750,000
Retention bonuses: $250,000 for 2007; $500,000 in 2010; $750,000 in 2013
Longevity bonuses: $750,000 after 2008; $500,000 in 2009, 2010, 2011 and 2012.
Performance bonuses: $75,000 for winning the Southeastern Conference; $250,000 for winning the BCS national championship; $100,000 for making it to a BCS bowl game; $50,000 for AP national coach of the year; $25,000 for AP SEC coach of the year; $50,000 for a top 10 finish in either the AP or coaches poll.
Apparel cut: $200,000 per year
Long-term investments: $100,000 in 2008; $150,000 from 2009 to 2012
Expense account: $60,000 per year
Education: $100,000 per year for his three children
Transportation: Car for Meyer and car for his wife, Shelley ... plus insurance!!!
Tickets: 12 tickets to each game plus the right to buy 40 more. (I guess so he can scalp them for more bonus money.)
If Meyer gets fired: $2 million for every year remaining on his contract
If Meyer wants to leave: He's got to pay Florida $500,000. (The old buyout was $150,000).
Talking with possible employees: Meyer can do this from Dec. 1 until Jan.2 (or seven days after Florida's bowl game.)