Will Muschamp finalizes contract

GAINESVILLE, Fla. -- Florida coach Will Muschamp has finalized his contract.

Muschamp received a $750,000 signing bonus, making his first year of the five-year deal worth more than $3.25 million. His average salary will be about $2.75 million annually.

The five-year deal includes $250,000 in base salary; $1.7 million annually for television and radio contracts; $260,000 annually from the school's equipment contracts; $200,000 annually from the school's apparel contract with Nike; $61,000 annually for an expense account; and $29,400 annually in pension.

He would also get a $500,000 retention bonus if he's still with the program on Jan. 31, 2016, after the final year of the deal.

The contract includes a $500,000 buyout clause and is full of bonus incentives, including $250,000 for winning the Bowl Championship Series title game and $75,000 for winning the Southeastern Conference title game.

If Florida fires Muschamp, he would receive $2 million a year for every year left on the contract.