Lane Kiffin officially receives new massive, incentive-laden extension after one year at FAU
It's rare, especially at a place like FAU, for a coach to sign such a huge deal after one season
After enjoying an 11-3 inaugural season, it's no surprise that FAU wants to keep coach Lane Kiffin around for as long as possible.
The school announced on Friday afternoon that Kiffin had officially received a 10-year extension that takes him through 2027. However, the announcement did not include specifics such as salary or buyout. Reports of the deal reach when the Owls, fresh off of a Conference-USA title, were preparing for the Boca Raton Bowl.
"We are extremely excited about the contract extension. Obviously, this came about because of the success that Lane (Kiffin) has had here," FAU athletic director Brian White said in a statement. "It shows Lane's commitment to FAU. It also shows the University's and (FAU President) Dr. (John) Kelly's commitment to our football program and all of athletics. It is an exciting thing to be a part of and shows a bright future for FAU."
Of course, the magic number here is not the length -- though it is certainly an impressive symbolic gesture by FAU -- but the buyout. According to the Miami Herald, Kiffin's buyout over the next four years is coach-friendly:
If a school offers the former Tennessee and Southern Cal coach the chance to return to a Power Five conference, the buyout is $2,000,000 if Kiffin wants to leave before Dec. 31, 2018; $1,500,000, if before Dec. 31, 2019; $1,000,000, if before Dec. 31, 2020; and $500,000, if before Dec. 31, 2021. The remaining six years of the contract aren't mentioned.
That's nothing compared to some of the astronomical buyouts around college football. Still, even with the success Kiffin has brought to FAU, it might be a year or two before a bigger program is ready to take a serious look at him.
As previously reported by multiple outlets which obtained the details of the contract, Kiffin's new deal is worth $9.5 million. He also receives an annual retention bonus of $50,000 and there are several incentives, the highlights of which include ...
- $20,000 for making the Conference USA title game and $40,000 for winning it
- $100,000 for being named national Coach of the Year
- $1 million for finishing the year as a top-10 team for three straight seasons
Who knows if Kiffin will stay at FAU that long. The odds of any coach staying at the same job for that period anymore are getting slimmer anyway. But there are worse ways to make a buck and Kiffin can win in Boca.
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