Georgia athletic director Greg McGarity gets raise, extension

Georgia athletic director Greg McGarity gets raise, extension

June 8th, 2012 by David Paschall in Sports College08football

Georgia athletic director Greg McGarity

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Georgia athletic director Greg McGarity received a two-year contract extension Thursday that will run through December 2017.

McGarity, who was hired in September 2010, is getting a $40,000 raise to bring his annual salary to $500,000 effective July 1. He will receive another raise of $50,000 next summer.

"Two years into our relationship with Greg McGarity, he has proven to be not only competent but extraordinary," university president Michael Adams said.

Georgia's Athletic Association Board of Directors' executive committee approved the adjustments to McGarity's financial agreement and at last sealed a new pact for football coach Mark Richt. It had been announced previously that Richt would receive a three-year extension through the 2016 season and that his salary of $2.81 million would remain unchanged but that performance-based incentives would double.

Under terms of the new contract, Richt will not owe Georgia anything if he leaves, and he would receive $4.8 million if he were to be fired after the upcoming season without cause. Those totals drop to $2.4 million after the '13 season, $1.6 million after the '14 season and $800,000 after the '15 season.

"Mark Richt is not only the dean of SEC coaches," Adams said, "but he is a person who has represented the University of Georgia extraordinarily well since he arrived in December of 2000."