Current:Home > FinanceDefeat of Florida increases buyout of Arkansas coach Sam Pittman by more than $5 million-DB Wealth Institute B2 Expert Reviews
Defeat of Florida increases buyout of Arkansas coach Sam Pittman by more than $5 million
View Date:2024-12-24 08:12:52
Arkansas’ 39-36 overtime win Saturday at Florida snapped a six-game losing streak and kept the Razorbacks’ slim hopes for bowl eligibility alive for another week.
For Sam Pittman, it did something else.
With the victory against the Gators on Saturday, the Arkansas coach improved his record since the start of the 2021 college football season to 19-16, and guaranteed that he will finish the 2023 season with a mark of at least .500 dating back to the 2021 season-opener.
Because of that, if Pittman is fired without cause at the end of this season, he will be owed 75% of what he his owed on the remainder of his contract, according to the terms of his agreement with Arkansas.
Sam Pittman contract details
Pittman's win over Florida is a notable distinction that is worth millions for Arkansas.
According to the terms of Pittman's contract, obtained by the USA TODAY Network, he will be owed no less than $16.1 million if the university fires him without cause on Dec. 1, 2023. Had he fallen below the .500 win percentage threshold since the start of the 2021 season, he would have been owed only 50%, worth roughly $10.7 million. In either case, he would have to make a good-faith effort to find another job, the income of which would be subtracted from Arkansas' buyout.
Pittman is scheduled to make $6.35 million in 2023 through Dec. 31, including a $5.25 million salary that includes $500,000 in annual salary, $4.5 million in additional compensation for speaking engagements and a $250,000 bonus for winning seven games in 2022. His pay ranks him 22nd among all FBS coaches and 10th among the SEC’s 14 coaches.
At the time he signed the contract, the Razorbacks were rolling under Pittman: In 2021, Arkansas went 9-4 and defeated Penn State in the Outback Bowl to reach its highest win total in a decade. The Razorbacks followed that breakthrough campaign with a disappointing 7-6 mark in 2022, a season in which it got off to a 3-0 start and rose to No. 10 in the US LBM Coaches Poll before losing six of their final 10 games.
This season has been even more difficult, with Arkansas at 3-6 following the win against Florida. That decline has raised questions about Pittman’s job status and his future at the school as he nears the end of his fourth season at the helm.
veryGood! (427)
Related
- Sean Diddy Combs' Lawyers File New Motion for Bail, Claiming Evidence Depicts a Consensual Relationship
- Virginia joins several other states in banning TikTok on government devices
- Shop The Katy Perry Collections Shoes You Need To Complete Your Summer Wardrobe
- Developers Put a Plastics Plant in Ohio on Indefinite Hold, Citing the Covid-19 Pandemic
- American Idol’s Triston Harper, 16, Expecting a Baby With Wife Paris Reed
- Massachusetts lawmakers target affirmative action for the wealthy
- Some of America's biggest vegetable growers fought for water. Then the water ran out
- A Federal Court Delivers a Victory for Sioux Tribe, Another Blow for the Dakota Access Pipeline
- Just Eat Takeaway sells Grubhub for $650 million, just 3 years after buying the app for $7.3 billion
- Why the government fails to limit many dangerous chemicals in the workplace
Ranking
- Channing Tatum Drops Shirtless Selfie After Zoë Kravitz Breakup
- Soccer legend Megan Rapinoe announces she will retire after 2023 season
- Trump says he'd bring back travel ban that's even bigger than before
- Spam call bounty hunter
- Statue of the late US Rep. John Lewis, a civil rights icon, is unveiled in his native Alabama
- Ariana Madix Shares NSFW Sex Confession Amid Tom Sandoval Affair in Vanderpump Rules Bonus Scene
- In bad news for true loves, inflation is hitting the 12 Days of Christmas
- Affirmative action in college admissions and why military academies were exempted by the Supreme Court
Recommendation
-
Chris Wallace will leave CNN 3 years after defecting from 'Fox News Sunday'
-
In this country, McDonald's will now cater your wedding
-
Fortnite maker Epic Games will pay $520 million to settle privacy and deception cases
-
Charlie Sheen and Denise Richards' Daughter Sami Clarifies Her Job as Sex Worker
-
South Carolina does not set a date for the next execution after requests for a holiday pause
-
Global Carbon Emissions Unlikely to Peak Before 2040, IEA’s Energy Outlook Warns
-
Southwest cancels 5,400 flights in less than 48 hours in a 'full-blown meltdown'
-
Deep Decarbonization Plans for Michigan’s Utilities, but Different Paths