College Football: Georgia Bulldogs Football
Kirby Smart’s Contract Details Unveiled: Bonuses and Buyout Terms of $130 Million Agreement
Kirby Smart, head coach of the Georgia Bulldogs, recently signed a groundbreaking 10-year contract worth $130 million, securing his position as the highest-paid coach in college football. This lucrative deal, finalized in May, has drawn significant attention, especially following recent revelations about its specific terms through an open records request.
According to details reported by Marc Weiszer of the Athens Banner-Herald, Smart’s contract offers substantial financial security. If Georgia decides to terminate Smart’s employment without cause before December 31, 2028, he will receive his full salary. Beyond that date, his contract remains 85% guaranteed for the remainder of its term, which extends until 2033. This level of commitment underscores the university’s investment in Smart, especially given the Bulldogs’ impressive track record under his leadership.
Since Smart took over as head coach, Georgia has compiled an outstanding record of 97 wins against just 17 losses, with a 57-10 mark in the Southeastern Conference (SEC). Notably, the Bulldogs have been especially dominant since the 2021 season, boasting a remarkable 46-3 record, which includes back-to-back national championships in 2021 and 2022. Last season, Georgia finished with a 13-1 record and clinched victory in the Peach Bowl. As of this year, the Bulldogs are off to a 3-1 start, with their sole defeat coming against the top-ranked Alabama team, 41-34.
Under the terms of his contract, Smart will earn $13 million annually, making him the highest-paid coach in public college sports. Additionally, his contract includes an annual bonus structure worth $1.775 million. Specific incentives are tied to the team’s performance, including a $1.25 million bonus for winning the national championship. Even if Georgia falls short in the title game, Smart would still earn $850,000.
The financial rewards continue with the new 12-team College Football Playoff structure. If the Bulldogs exit in the first round, Smart receives $250,000. This bonus increases to $500,000 for a quarterfinal appearance and $750,000 for reaching the semifinals. Furthermore, winning the SEC Championship Game would net him an additional $200,000, while even a loss in that game guarantees him $100,000.
Regarding resignation terms, Smart’s buyout provisions stipulate a $5 million payout if he leaves Georgia on or before December 31, 2026. This amount decreases to $4 million if he resigns by December 31, 2029, and will continue to decline by $1 million each year until reaching $1 million for resignations on or before December 31, 2033.
In summary, Smart is set to earn a substantial income throughout his contract, regardless of whether he remains with the Bulldogs for the entire duration. Given Georgia’s recent successes, it’s fair to say that Smart holds one of the most secure coaching positions in college football today. The Bulldogs will look to continue their momentum as they prepare for an upcoming SEC matchup against Auburn.
