GAINESVILLE, Fla. -- Florida has picked up the option year on coach Will Muschamp's five-year contract, meaning the deal he signed when he was hired in December 2010 to replace Urban Meyer will now expire after the 2016 season.
Steve McClain, UF’s associate athletic director for communications, said the school chose to pick up the option in January.
Muschamp – who led Florida to a 7-6 record in his first season -- is paid $2,750,400 annually. He has a $250,000 annual base salary and receives $1.7 million annually for activities (television and radio show, appearances, booster clubs, etc.) and $200,000 per year from Nike. UF also gives Muschamp an annual $61,000 expense account and $260,000 annually as part of his equipment package. The school also contributes $29,400 annually to Muschamp’s pension.
The deal also includes a hefty buyout should UF decide to fire Muschamp without cause -- $2 million for each year remaining on the contract.
The contract also includes the following performance incentives:
$75,000 for winning the SEC Championship Game ($37,500 for making it)
$37,500 for reaching a non-BCS bowl game
$100,000 for reaching a BCS bowl game
$250,000 for winning the BCS National Championship game ($150,000 for making it)
$50,000 for being named the Associated Press Coach of the Year
$25,000 for being named the AP’s SEC Coach of the Year
$50,000 for a top 10 finish in the AP or USA Today Coaches’ poll.