Report: New Lane Kiffin contract does not change one key figure
Lane Kiffin signed a ten-year contract extension at Florida Atlantic this week, but judging by one important point in the deal, it doesn’t seem like it should be taken as a guarantee that he’ll be at the school long-term.
According to Chuck King of OwlAccess.com, which obtained a copy of Kiffin’s new deal, much is unchanged in the new contract. That includes his base salary, though he is entitled to a number of bonuses based on performance. He’ll also receive financial bonuses if his players meet certain academic standards.
There is one point, however, that may be taken as an indicator that Kiffin’s long-term future lies elsewhere. Florida Atlantic did not alter Kiffin’s buyout clause, which stands at $2 million prior to January 2019 and a paltry $500,000 afterwards. That means if Kiffin finds a new job after next January, it will not be expensive to free him from his FAU deal.
Kiffin had been talking about a new deal for a while, and he certainly has a pretty good gig now. It’s clear, though, that he wanted to keep some leverage for himself going forward, and he has done that.