All over the country, there’s evidence that one of the most dangerous risks for a college administration is breaking the bank to secure the long-term services of a Power 5 football coach.
Many schools take that plunge, believing a massive investment in a rising star or a championship coach is all it takes to become a national contender. Then some regret the millions of dollars it ends up costing to buy out their fired coach.
Whether it’s Scott Frost at Nebraska, UCF coach Gus Malzahn when he exited Auburn, Geoff Collins at Georgia Tech or Herman Edwards at Arizona State, too many programs find themselves having buyer’s remorse.
At Georgia, which awarded Kirby Smart a 10-year, $112.5 million contract extension in July after he won the Bulldogs’ first national title in 41 years, that’s looking like money well spent.
“Where presidents and athletic directors get into trouble is signing off on fully guaranteed contracts for multiple years,” said TaxSlayer Gator Bowl CEO Greg McGarity, the former Georgia AD who hired Smart in December, 2015.
Kirby’s first contract was not 100 percent guaranteed. You’re rolling the dice doing that. Sometimes you win, sometimes you lose.”
Everything about Smart’s resume suggests Georgia is winning big — his .829 winning percentage (73-15) is tops among FBS coaches with a minimum seven seaons — and will continue that trend. The Bulldogs have been in four of the past five SEC title games.
