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*** LIVE thread Richt contract updates (Thursday) ...

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11 months ago

I'm actually hunkered down at the moment in a conference room in Greg McGarity's office, where we're about to be privy to a conference call by the executive committee of the UGA athletic board, which is expected to approve Mark Richt's new contract.
Keep it here for updates ...

This post has been edited 2 times, most recently by Gentry Estes on 6/7/2012 at 5:33 PM
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11 months ago

Waiting now for all board members to join the call. Michael Adams just called in and said he's in a parking lot in Atlanta, so there's that ...
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11 months ago

Still waiting on a few final board members ...
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11 months ago

They're having trouble getting everyone on the board on the call.
Call has now been moved to 5:30 p.m.
Eight media members in the room listening to call, by the way.
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11 months ago

Actually kind of funny ...
OK, so we'll do this again in about three hours
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11 months ago

Gentry Estes said...
They're having trouble getting everyone on the board on the call.
Call has now been moved to 5:30 p.m.
Eight media members in the room listening to call, by the way.

Good grief, is this new contract EVER going to get done???!
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11 months ago

Gentry Estes said...
They're having trouble getting everyone on the board on the call.
Call has now been moved to 5:30 p.m.
Eight media members in the room listening to call, by the way.

That's pretty sad IMO. Not that yall were there, but that they couldn't get enough ppl on the phone.
**nevermind, wrong date put on memo to board members... yikes

This post was edited by MarshLandDawg on 6/7/2012 at 1:44 PM
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11 months ago

MarshLandDawg said...
**nevermind, wrong date put on memo to board members... yikes

Yeah, this happened. I know who made that error but didn't want to post it.
Not a big deal, but after the long wait on the actual deal, kind of fitting that we get to wait some more today.
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11 months ago

OK ... Let's try this again ...
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11 months ago

Take two ...
I think they have enough on the call now to finally rubber-stamp the contract.
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11 months ago

We're supposed to hear from McGarity later as well ...
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11 months ago Premium Post
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11 months ago

Michael Adams asks to go into executive session to discuss "two personnel matters." So the media is now off the call for a few minutes.
You may remember that it was "two personnel matters" that Adams wanted to discuss in closed session at the UGAAA meeting in Greensboro as well.
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11 months ago

Adams: "We have reached an agreement in the last week on a contract extension for the head football coach and a contract extension for the athletic director."
So McGarity gets an extension too
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11 months ago

Adams says he initiated contract extension talks with McGarity.
Raise would take his salary from $460,000 to $500,000 on July 1, 2012 and then $550,000 on July 1, 2013
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11 months ago

McGarity's new deal would be through Dec. 31, 2017.
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11 months ago

Board approves both extensions
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11 months ago

Adams says he wanted McGarity's extension to be "slightly longer that the head football coach"
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11 months ago

McGarity now meeting with reporters to walk us through Richt's contract, which we're receiving copies of now.
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11 months ago

31 pages
Will update more when I can
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11 months ago

In new deal, Richt's buyout from UGA would be $2.4 million over three new years (in other words $800K a year from 2014-17)
The big change is that Richt NO LONGER HAS A BUYOUT AT ALL if he was to leave UGA.
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11 months ago

So let's repeat that: Richt no longer has a buyout to leave. His previous buyout if he was to leave was $2 million.
And his buyout from UGA is down if he's let go as well. It would have been $2.4 million annually under old deal as of Dec. 2012. It will now be $800,000 annually as of 2014. In 2013, the buyout would stay the same as in original deal on UGA's behalf if Richt is let go.
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11 months ago via 247Sports Mobile Premium Post
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11 months ago

McGarity says of RIcht's lack of buyout to leave, "There's no monkey business here" ...
"At the end of the day I've always believed money should not be a determining factor that people stay. I've felt like that shouldn't be an anchor around someone's neck.
"This sort of allows people to do what they really want to do.
"There's no question Mark Richt wants to be at the University of Georgia. I can guarantee you that."

This post was edited by Gentry Estes on 6/7/2012 at 5:54 PM
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11 months ago

CityDawg82 said...
Hey Gentry, whats the deal with CTG's contract? Any word when that will be finalized?

We're told that will be released tomorrow.

This post was edited by Gentry Estes on 6/7/2012 at 5:18 PM
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