Petrino, UA agree to terms of new 7-year contract

After leading the Razorbacks to a 10-2 regular season, and their first ever BSC bid this year, Bobby Petrino got himself a fat raise over the weekend.

Petrino and the University of Arkansas agreed to terms of a 7-year contract that will extend through 2017. Under the new agreement, Petrino will earn $3.56 million per year, making him the seventh-highest-paid coach in the country.

The agreement also extended the non-compete clause in Petrino’s current agreement from SEC West teams, to the entire SEC, and includes a hefty buyout clause beginning at $18 million per year for the next two years.

In other words, if another university decides to try to hire Petrino away from Arkansas, they’re gonna have to shell out some big bucks. Conversely, don’t look for Arkansas to fire Petrino any time soon either. The buyout clause goes both ways.

Petrino said he was pleased with the new agreement.

“I am excited to express my commitment to the University of Arkansas,” he said. “Chancellor (Dave) Gearhart and Jeff Long have been tremendous in terms of their support and I appreciate the positive energy the fans have demonstrated. I look forward to continuing to dedicate myself to leading the Razorback football program.”

» Download the full agreement