ATHENS -- The contract extension for University of Georgia head football coach Mark Richt has been finalized, signed, and approved by the UGA Athletic Association Board of Directors Executive Committee Thursday afternoon according to an announcement by Director of Athletics Greg McGarity.
UGA President Dr. Michael F. Adams also announced an extension of McGarity's contract through December, 2017.
The three-year extension, added to the two remaining on his existing contract, ties Richt to Georgia through the 2016 season.
"We're very pleased the final details of Coach Richt's contract have been completed and the document has been officially executed," said McGarity. "I think it's a win-win for all involved and we're ready to move forward toward the coming season."
"Mark Richt is not only the dean of SEC coaches, he is a person who has represented the University of Georgia extraordinarily well since he arrived in December of 2000," said Adams. "He has compiled a very strong record of wins and losses over that period. I am glad we were able to work out this contract extension which I believe is good for the University, good for football and good for Mark."
McGarity took over as director of athletics on Sept. 1, 2010.
"One always has concerns about how any new hire might turn out," said Adams. "But two years into our relationship with Greg McGarity, he has proven to be not only competent but extraordinary. In that light, I am pleased to announce the Executive Committee of the Athletic Board today approved my recommendation to extend his contract through December, 2017, and to increase his compensation to $500,000 effective July 1, 2012, and to $550,000 effective July 1, 2013. This agreement is within the parameters given me by the full board at its recent annual meeting."
"I'm pleased President Adams, Greg McGarity and the Athletic Board have the confidence in me, our football staff, and the direction of the program," said Richt. "I'm thankful to get the final details of the contract completed and am ready to continue preparations for the upcoming season and beyond."