Richt's eight-year contract includes big buyouts

Updated: August 7, 2003, 3:52 PM ET

ATHENS, Ga. -- The eight-year contract football coach Mark Richt signed at Georgia contains a $1.5 million buyout for the first five years and an $800,000 buyout for the final three.

That means if Richt leaves Georgia after this season, his new employer would have to pay Georgia $8.4 million. He makes $1.5 million a year.

The Atlanta Journal-Constitution first reported the figures in Thursday's editions after getting a copy of the contract through the open records law. The school later confirmed the numbers to The Associated Press.

Richt agreed to the contract last December, just before the Bulldogs beat Florida State 26-13 in the Sugar Bowl to complete a 13-1 season. They won the Southeastern Conference championship for the first time since 1982.

"This is where I want to be," Richt told the paper. "I didn't blink an eye. It just says Georgia wants me and I want Georgia. I know I wanted Georgia from Day 1. We like it here a lot."

The school would have to pay Richt the buyout amounts if he's fired without cause.

"I think it shows his commitment to us," athletic director Vince Dooley said. "I think it's a mutual commitment for the first five years. He didn't have any troubles with that because he wants to be here."

This story is from's automated news wire. Wire index