- Sep 8, 2014
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Mullen officially signs six-year, $36.6 million deal at UF
Mullen officially signs six-year, $36.6 million deal at UF
GAINESVILLE, Fla. -- Florida coach Dan Mullen officially signed his contact with the Gators last Tuesday, locking him into a six-year deal worth a little more than $36.6 million over the lifetime of the agreement. The terms were originally agreed upon when Mullen took the job in November.
Mullen's annual compensation in each year of the six-year deal will be $6.1 million, with $200,000 per year in the form of an expense account and $70,000 per year reserved for airplane usage.
The Gators also agreed to provide Mullen with $5 million for his assistant coaching pool, with Mullen spending $4.84 million of that allotment on his inaugural coaching staff. Mullen can also earn up to $925,000 per year in bonuses based on performance-related incentives. You can view those below.
One other interesting tidbit: Florida has changed the structure of a buyout in the event it fires Mullen without cause before his contract has expired.
For both of the previous two coaches, the buyout agreement stated that the fired coach would receive half of whatever money was owed to him at the time of firing within 30 days of his dismissal, then annual installments of the remaining amount in each of the following four years.
With so much money paid in buyouts to the previous two coaches and their fired staffs (Florida's still on the hook for one more payment of about $787,500 to Will Muschamp in November, for the record), the Gators have extended that timeline even further in case they have to fire Mullen at some point.
Mullen would be owed $12 million or the remaining value on his contract (if it's lower than $12 million), with half paid out within 30 days of firing and the remaining installments paid out in annual installments over the following six years.
Along with the buyout payment to Muschamp in November, Florida paid former coach Jim McElwain $3.75 million on Dec. 1, another $250,000 on Feb. 15 and $1 million on July 1. The Gators still owe McElwain $1 million on July 1 each of the next two years, before a final payment of $500,000 on July 1, 2021.
Should Mullen leave Florida before his contract is up, he would owe the Gators $2 million.
You can view the incentives Mullen can earn in a given year below. The academic incentive Mullen can earn begins at $50,000 annually for a one-year team APR score at or above 940. It jumps to $75,000 for a team APR score at or above 950 and to $100,000 if the football reaches a single-year team APR score above at or above 965.
Dan Mullen's Annual Performance Bonuses:
$400,000 - College Football Playoff Champion
$300,000 - College Football Playoff Runner-Up
$250,000 - College Football Playoff Semi-Finalist
$200,000 - Participation in an Access/Big 6 Bowl Game
$200,000 - Win SEC Championship
$100,000 - Participate in Bowl Game
$100,000 - Reach SEC Championship Game
$100,000 - Finish in the AP Top 10
$100,000 - Academic Performance
$75,000 - Named AP National Coach of the Year
$50,000 - Named SEC Coach of the Year
Mullen officially signs six-year, $36.6 million deal at UF
GAINESVILLE, Fla. -- Florida coach Dan Mullen officially signed his contact with the Gators last Tuesday, locking him into a six-year deal worth a little more than $36.6 million over the lifetime of the agreement. The terms were originally agreed upon when Mullen took the job in November.
Mullen's annual compensation in each year of the six-year deal will be $6.1 million, with $200,000 per year in the form of an expense account and $70,000 per year reserved for airplane usage.
The Gators also agreed to provide Mullen with $5 million for his assistant coaching pool, with Mullen spending $4.84 million of that allotment on his inaugural coaching staff. Mullen can also earn up to $925,000 per year in bonuses based on performance-related incentives. You can view those below.
One other interesting tidbit: Florida has changed the structure of a buyout in the event it fires Mullen without cause before his contract has expired.
For both of the previous two coaches, the buyout agreement stated that the fired coach would receive half of whatever money was owed to him at the time of firing within 30 days of his dismissal, then annual installments of the remaining amount in each of the following four years.
With so much money paid in buyouts to the previous two coaches and their fired staffs (Florida's still on the hook for one more payment of about $787,500 to Will Muschamp in November, for the record), the Gators have extended that timeline even further in case they have to fire Mullen at some point.
Mullen would be owed $12 million or the remaining value on his contract (if it's lower than $12 million), with half paid out within 30 days of firing and the remaining installments paid out in annual installments over the following six years.
Along with the buyout payment to Muschamp in November, Florida paid former coach Jim McElwain $3.75 million on Dec. 1, another $250,000 on Feb. 15 and $1 million on July 1. The Gators still owe McElwain $1 million on July 1 each of the next two years, before a final payment of $500,000 on July 1, 2021.
Should Mullen leave Florida before his contract is up, he would owe the Gators $2 million.
You can view the incentives Mullen can earn in a given year below. The academic incentive Mullen can earn begins at $50,000 annually for a one-year team APR score at or above 940. It jumps to $75,000 for a team APR score at or above 950 and to $100,000 if the football reaches a single-year team APR score above at or above 965.
Dan Mullen's Annual Performance Bonuses:
$400,000 - College Football Playoff Champion
$300,000 - College Football Playoff Runner-Up
$250,000 - College Football Playoff Semi-Finalist
$200,000 - Participation in an Access/Big 6 Bowl Game
$200,000 - Win SEC Championship
$100,000 - Participate in Bowl Game
$100,000 - Reach SEC Championship Game
$100,000 - Finish in the AP Top 10
$100,000 - Academic Performance
$75,000 - Named AP National Coach of the Year
$50,000 - Named SEC Coach of the Year
