Way to make football a priority, Mitch! We've been paying you since 2002!
This extension and raise disgusts me. He is already being paid $600,000/year and we were stuck with him already for 3.5 more years.
Who are these people at UK who are afraid that someone will snatch him away?
Were the numbers posted above?
Here are some of them:
Under the amended contract, Barnhart, 56, will see his $730,000 annual salary increase to $840,000 beginning in 2019.
For each of the remaining years on the deal, Barnhart gets an annual increase, making $880,000 in 2020 and $925,000 in 2021.
The amendment includes six-figure bonuses that go directly into a deferred-compensation retirement fund for each year he remains at UK on top of yearly retention bonuses starting in 2019.
The deferred-compensation package, essentially a supplemental retirement deal, is paid to Barnhart only if he remains at Kentucky.
As far as longevity bonuses, they start for Barnhart in 2019, when he gets an additional $50,000. That increases to $75,000 in 2020, $100,000 in 2021 and $150,000 in 2022. Barnhart will be 63 when this deal ends.
The amended contract also has a liquidated damages clause that offers Barnhart $925,000 if he is terminated without cause between now and 2019. If he’s fired without cause after June 30, 2019, he gets a $550,000 payout.
http://www.kentucky.com/sports/college/kentucky-sports/uk-football/article88620362.html
And was this kept quiet?
Guy Ramsey, UK’s director of strategic communications, said he wasn’t sure why the contract amendment wasn’t posted until nearly four months after it was signed.