Tuscaloosa, Alabama — Alabama coach Nick Saban has landed a new eight-year deal worth at least $93.6 million, surpassing Southeastern Conference rival Kirby Smart’s recent megadeal.
On Tuesday, the University of Alabama’s board of directors’ compensation committee approved a one-year extension through Feb. 28, 2030 for Saban, 70, who led the Crimson Tide to six national titles. Saban’s contracts averaged $11.7 million a year, ahead of his Smart’s $11.25 million at defending national champion Georgia.
The announcement comes a month after Smart agreed to a 10-year deal worth more than $110 million. The Bulldogs defeated Alabama in a national championship game in January.
The two will join Ohio State’s Ryan Day, LSU’s Brian Kelly, Michigan State’s Mel Tucker and Texas A&M’s Jimbo Fisher as college football coaches earning at least $9 million in 2022.
Saban’s deal includes $9.9 million in salary and staffing costs this year and a $400,000 annual salary increase. Saban will receive an $800,000 completion bonus and other bonuses at the end of February each year for the next four years.
“[My wife]Terry and I are extremely grateful for the unparalleled commitment the college has shown to this football program and to our family over the past 15+ years. I’m looking forward to finishing my career with Alabama.”
His contract ensures that his salary remains at or near the top among college football coaches.
If Saban’s contract falls below the average salary of the three highest-paid coaches in the Southeastern Conference, or the average salary of five paid college football coaches, Saban would be boosted. He receives the higher of his two averages.
Saban agreed to a three-year extension for $84.8 million over eight years in June 2021.
Alabama Athletic Director Greg Byrne will receive a three-year extension through June 30, 2029 with a 5% pay increase. He will make $1.49 million this year, pushing his 2028-29 salary to $1.91 million.
Byrne also secured a coach aiming for his eighth national title, including one at LSU.
“Here in Coach Saban, Alabama, we have one of the best football coaches in America and we are very lucky to have one of the greatest coaches of all time in any sport. Not only are they , but they are also doing great in the classroom and in the community.
“More than that, the impact he and Terry have had on the University of Tuscaloosa and the state of Alabama cannot be overlooked.”
The financial terms of the agreement are formalized with formal approval by the University of Alabama System Board of Trustees.
Alabama Signs New 8-Year, $93.6 Million Deal in Sabang
Source link Alabama Signs New 8-Year, $93.6 Million Deal in Sabang