It’s official, Gus Malzahn’s new deal at Auburn is now signed.
The school released information regarding Malzahn’s deal Tuesday. The deal was originally agreed upon immediately following Auburn’s loss to Georgia in the SEC Championship Game. The seven-year deal averages out to include a salary of $7 per season and runs thru the 2024 season.
Despite the average price tag being $7 million, Malzahn will make $6.7 million in 2018 from Auburn, with each season adding another $100,000 to his total compensation. Malzahn’s new deal will cap out at $7.3 million in 2024.
According to Josh Vitale of AU Now, Malzahn’s buyout will be set at 75 percent of the remaining compensation remaining on his deal. So, each year Malzahn stays at Auburn, the total amount of the buyout will decrease. The initial buyout number is set at $36.75 million.
Gus Malzahn's new 7-year contract averages $7 million a season. He'll make $6.7 million in 2018 with a $100,000 increase each season to $7.3 million in 2024, the final year of his contract.
If he's fired without cause, Auburn will owe him 75 percent of his remaining contract. pic.twitter.com/KBElMIAD9r
— Auburn Gold Mine (@AUGoldMine) February 6, 2018