Sports A new $112 million contract for Georgia football coach...

A new $112 million contract for Georgia football coach Kirby Smart is guaranteed for five seasons

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Georgia football coach Kirby Smart’s 10-year contract worth $112,500,000 is fully guaranteed for the next five seasons.

According to an amendment to the contract received Thursday in an open records request that took effect Jan. 1, Smart would receive 100 percent of the total unpaid contract amount through Dec. 31, 2031, if terminated without cause at any time during the first five years. .

If terminated on or after January 1, 2027, 85 percent of his total compensation will be payable to Smart.

Under his previous contract, which ran through 2024, Smart was paid 65 percent of his total remaining compensation if fired without cause. He received more than $7 million last year before bonuses and is due an annual raise.

Georgia would have owed Smart $14.6 million had Smart been fired on Dec. 1 of last year. If he is fired on December 1 of this year, he will be owed $102 million.

Smart received a major salary increase to $10.25 million starting this year after leading Georgia to its first national title since 1980.

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If Smart resigns, he owes Georgia the following:

— $5 million at any time before the end of calendar year 2024.

–$4 million per calendar year from 2025 to 2027.

–$3 million in calendar year 2028

–$2 million in calendar year 2029

–$1 million in calendar year 2030 or 2031

Smart is eligible for up to $1.525 million in bonuses this season, up from $1.15 million previously.

Smart will get $100,000 to reach the SEC Championship Game or $300,000 if Georgia wins.

Reaching the College Football Playoff is worth $500,000 and winning a semifinal game brings in an additional $250,000 and a national championship win adds another $250,000 to the $1 million total. Other bonus money comes from his team’s academic performance.

Smart gets up to 50 hours of flight time per year on a light jet for non-business travel for family or guests. This is double his previous contract. That perk is said to be worth about $130,000 in 2018.

Smart is entering his seventh season with Georgia in 2022 and has made two national championship games and won an SEC title.

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