UGA athletic board approves new contract for Richt

By The Associated Press

Posted 6:55AM on Wednesday, January 25, 2006

Georgia's athletic board of directors approved a new eight-year, $16 million contract for coach Mark Richt on Wednesday that also includes added incentives if his players meet high graduation standards.The contract boosts Richt's annual salary to $2 million from $1.5 million.Richt's new contract, announced one week before signing day, again places the Georgia coach among the highest paid in the Southeastern Conference.Richt's 2005 team won its second SEC championship in the last four years. Before Richt's arrival, Georgia had not won an SEC title since 1982.Richt had five years remaining on his current contract. The new contract extends through the 2013 season and retains a stiff buyout clause. Richt would have to pay Georgia the remaining value of the contract if he were to leave for another coaching job.University of Georgia president Michael Adams stressed the new agreement is an affirmation of Richt's commitment to Georgia _ and Georgia's desire to keep the coach."I don't view the money issue as profoundly as I view the long-term consideration on both sides," Adams said."He wants to be here and we want him to be here."Said athletic director Damon Evans: "This is a reflection of our commitment to him. We believe Mark Richt is the man for the job."Richt, out of town on a recruiting trip, said in a statement he is "pleased and appreciative" of the new contract."It says that the university wants us to be at Georgia and this is certainly where my family wants to be," Richt said. "I've been very blessed with a great staff and players during the past five years as well as tremendous support from our university and athletic administration, fans, and student body. We're looking forward to working together for many years to come."Adams said the new deal "should put a lot of those other issues to rest."Richt, the former offensive coordinator at Florida State, has been included in speculation about the eventual successor to Seminoles coach Bobby Bowden."Coach Richt has told us this is where he wants to be, and the university has answered to the world that we want him here," Adams said.Georgia was ranked No. 10 with a 10-3 record in the final Associated Press poll for the 2005 season. It has had four straight top 10 finishes under Richt, winning 10 or more games each of those seasons.The executive committee of the athletic board board met in private for about an hour to discuss the proposal from Evans for Richt's new contract. The board also discussed a proposal from Evans for $2 million to replace the current small airplane owned by the athletic association.After reporters were allowed to return to the meeting, the 12-member committee issued unanimous votes in support of both proposals.Richt can earn up to $400,000 in bonuses if he meets various incentives, including still-undefined graduation rates for his team.Adams said the board has not determined what graduation standards will be included as incentives in the new contract. He said the graduation rates of Georgia football players may be measured on a national level or against other SEC schools."There will be other incentives, but right now the graduation rate is something we consider very, very significant," Evans said.Adams acknowledged Georgia and other schools cannot continue to keep pace with the recent increases in salaries for head football coaches, but he said this raise was deserved."I think all things considered it's prudent despite the numbers involved," Adams said."We want to compete at the highest level."Adams said the timing of the announcement was not intended as a boost for Richt and Georgia for Tuesday's signing day."This is the time we normally redo football salaries," he said.Richt is 52-13 in five years at Georgia. His 2005 team was a preseason pick to finish third in the Eastern Division of the SEC, but instead it won the division for the third time in five years under Richt.