Georgia coach Kirby Smart could very well make more than the $112.5 million due in the 10-year contract extension he signed last month. Smart has performance bonuses in the extension that could net him as much as $1.3 million more per year.
Details of Smart’s contract extension, which is now effective from Jan. 1, 2022, were obtained by The Atlanta Journal-Constitution in response to an open-records request.
Smart will get $100,000 if Georgia reaches the SEC Championship game and $300,000 if the Bulldogs win the title. He will receive $50,000 for participation in the Birmingham or Independence bowls, $75,000 for participation in the Six Pack bowl games the TaxSlayer, Outback, Belk, Music City, Texas or Liberty bowls, $100,000 for participation in the Citrus Bowl and $175,000 for participation in the College Football Playoff bowl games the Sugar, Rose, Orange, Cotton, Fiesta or Peach.
The stakes go up should Georgia make the College Football Playoff. Smart will make $500,000 for a national semifinal appearance, $750,000 for a national championship appearance and $1 million should Georgia win the national title.
Smart’s contract is fully guaranteed for the first five seasons, effective from the new Jan. 1, 2022 date with a base salary, media compensation and equipment compensation. Smart’s base salary is $600,000. His media compensation increases from $6.25 million in 2022 to $7.55 million in 2031. His equipment compensation increases from $3.4 million in 2022 to $4.1 million in 2031.
If Smart is terminated in 2027 or after, he would be owed 85% of the remaining contract.
The contract extension also calls for Smart to repay Georgia should he resign or terminate the contract extension. He would owe $5 million in 2022-24, $4 million in 2025-2027, $3 million in 2028, $2 million in 2029 and $1 million in 2030-31, when the contract extension expires.
