Urban Meyer's contract includes financial incentive to stick around
He was so frustrated after Florida's 31-7 loss to Florida State last weekend and the Gators' 7-5 regular season record that Florida coach Urban Meyer vowed he would rebuild the program quickly and return it to national prominence.
If he does, he'll be compensated well.
Among the incentives in Meyer's contract, agreed last year, is a $1 million retention bonus and $250,000 in investments which will be paid annually after Jan. 31 beginning in 2011.
Meyer's contract was released on Friday by Florida athletic officials today as part of a public records request from The Times.
Now in his sixth season with the Gators, Meyer's new six year contract, including incentives and other financial benefits, is worth approximately $4 million per year and runs through 2015.
Meyer will receive a base salary of $250,000 in 2010 and 2011, which increases to $275,000 in 2012-15. He will receive just over $2 million for services (media appearances, apparel contracts, etc.) from the University Athletic Association - which is independent of the University of Florida.
If Meyer were to win another national title, he'd earn $400,000. An SEC title is worth a $100,000 bonus, just making it to the title game is worth $75,000.
Meyer is paid through UAA from booster donations - no other state funds contribute to his bonuses.