Arkansas Sports 360 - ArkansasSports360.com

12/9/2010 at 2:45pm

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Is Bobby Petrino making an exit? Is he about to get an extension? We'll all find out soon enough, right? In the meantime let's review what we do know about the particulars of Petrino's contract.

Is Bobby Petrino really a candidate for the University of Florida head football coaching vacancy? Is he about to get an extension?

We'll all find out soon enough, right? In the meantime let’s review what we do know:

— Petrino is currently in the third year of a deal that ends in 2014. He’s paid $2.85 million annually, though part of the deal is deferred compensation if he sticks around through the end of the contract.

— Incentives are very much a part of his contract. He'll get $75,000 for making the Sugar Bowl and can earn up to $450,000 annually in academic and athletic bonuses.

— There is a no-compete clause for the SEC West only that runs through Dec. 31, 2012. That means until the final two years of his deal, Petrino has pick of 112 other jobs if he decides to leave Fayetteville. He is free to go anywhere but LSU, Mississippi State, Ole Miss, Alabama or Auburn. (Some will argue, though, just how binding that sort of clause actually is).

— Now the big one. Anybody interested in Petrino is going to have to fork over some cash. Today (Thursday, Dec. 9, 2010 at 2:30 p.m.) the buyout is a shade more than $3 million.

Petrino’s initial deal called for a cumulative total buyout of $8.75 million. It decreases by a certain amount each Jan. 1 that the deal is in place, and it decreases at a prorated basis through to the year. So, on Jan. 1, 2011 Petrino's buyout will stand at $3 million.

It dropped $2 million to $6.75 million after year one, and another $2 million to $4.75 after year two. During 2011, another $1.5 million will eventually be shaved off to where his buyout is $1.5 million on Jan. 1, 2012. On Jan. 1, 2013, it will have decreased to $500,000, and there is no buyout amount during 2014.

OK. So there’s what we know.

That should be plenty to keep folks occupied until we find out about an extension or an exit.

Should Petrino leave this year, look on the bright side: Arkansas would be $3 million closer to having the money needed for its football operations center. (What? That's not funny?). Or, for those who cared, that would balance out the $3 million Houston Nutt took with him to Ole Miss before Petrino was hired.

Tagged: Arkansas Razorbacks, Bobby Petrino, Jeff Long, Florida Gators, Urban Meyer