Georgia offensive coordinator Mike Bobo’s new three-year contract allows for him to leave without financial penalty for a step up in his career.
Bobo won’t owe a buyout if he takes a position as a college or NFL head football coach or NFL coordinator job, according to the contract received Tuesday evening under an open records request by the Banner-Herald.
If Bobo leaves his job otherwise — for another college coordinator position, for instance — before Jan. 1, 2014, he will owe $125,000 in liquidated damages. That figure drops to $100,000 on or after Jan. 1, 2014 and to $50,000 on or after Jan. 1, 2015.
Georgia and Bobo, who has been on staff since 2001, agreed earlier this offseason to his first multi-year contract that will pay him $575,000 per season. The contract runs until Dec. 31, 2015, plus any postseason game.
Georgia also released a two-page amendment to head coach Mark Richt’s contract.
The UGA Athletic Association’s board approved a raise of about $400,000 raise and one-year extension through the 2017 season in February to bring his total guaranteed compensation package to approximately $3.2 million. Richt’s “media compensation” increased from $1,120,000 to $1,508,660.