No raise but bigger bonuses for Georgia football coach Mark Richt

No raise but bigger bonuses for Georgia football coach Mark Richt

May 25th, 2012 by David Paschall in Sports College08football

Georgia coach Mark Richt smiles during a news conference in Atlanta. Richt has agreed to a new five-year contract that will carry him through the 2016 season.

Georgia coach Mark Richt smiles during a news...

Photo by Associated Press /Times Free Press.

The three-year contract extension for Georgia football coach Mark Richt will not include a salary increase but will contain larger performance-based bonuses.

During Thursday's meeting of the Georgia Athletic Association board of directors in Greensboro, Ga., athletic director Greg McGarity said Richt's salary will remain at $2.81 million annually. The contract, which is expected to be finalized soon, will include bonuses doubling from the current $475,000 maximum to $950,000.

Richt now will get $150,000 for reaching the Southeastern Conference championship game, $50,000 for winning the SEC title, $500,000 for a national championship and $200,000 for reaching a BCS bowl. All those figures are twice his current totals.

The lack of a salary increase will keep Richt sixth among league coaches, trailing Alabama's Nick Saban ($5.32 million), LSU's Les Miles ($3.86 million), Auburn's Gene Chizik ($3.5 million), South Carolina's Steve Spurrier ($3.3 million) and Florida's Will Muschamp ($3.22 million). Richt's last pay raise occurred in March 2008.

When asked by reporters why the negotiations taken so long, McGarity said, "I don't know. Mark and I have been on the same page as far as all the major points of it for months."

Also yet to be finalized is a new contract for Bulldogs defensive coordinator Todd Grantham, who is expected to receive a raise from his $750,000 annual salary.

A 2013 fiscal year budget of $92,130,725 was approved, as were three facility-related projects. Those include $1.006 million to upgrade scoreboards at the baseball, softball and soccer facilities, $1.35 million for renovations at Foley Field and $375,000 for renovations at Gate 10 of Sanford Stadium.