Kirby Smart contract: New details emerge on buyout structure, bonus payout

New details have emerged on Kirby Smart’s contract at Georgia, according to documents obtained by the Athens banner-Herald. The deal was extended through 2033 in May and made Smart the highest-paid coach in the game.

Smart’s contract is 85% guaranteed if he is fired without cause through the end of 2028, the Banner-Herald reported. His bonus payout also increases to a maximum $1.775 million per annually, and his buyout is now $5 million on or before Dec. 31, 2026. From there, it drops by $1 million each year from 2029-33.

Smart’s buyout becomes $4 million on or before Dec. 31, 2029, and $3 million on or before Dec. 31, 2030. It then drops to $2 million on or before Dec. 31, 2031 and $1 million on or before the end of the contract Dec. 31, 2033.

Smart’s bonus structure also changes with the 12-team College Football Playoff format. He will get $250,000 for playing in a first-round game, and an additional $250,000 for each quarterfinals and semifinals appearance. That means is bonus would be $500,000 for reaching the quarterfinals and $750,000 for advancing to the semifinals. The payout moves to $850,000 for making the national championship and $1.25 million for winning a title.

“I want to thank President Morehead, Josh Brooks and the Board of Directors for extending my contract at the University of Georgia,” Smart said in a statement announcing the new deal. “I continue to be grateful and humbled by our administration’s commitment to our football program.

“The current culture in collegiate athletics is everchanging and as challenging as it has ever been, so I truly appreciate the leadership that our team is continually provided. I have an immense pride for representing my alma mater and look forward to that relationship continuing for many years to come.”

More on Kirby Smart’s new contract at Georgia

Kirby Smart’s salary increased to $13 million per year when the university board approved his new contract. That made him the highest-paid coach per year in college football, putting him ahead of Dabo Swinney’s $11 million on average, according to the On3 Coaches Salaries Index.

“I am extremely grateful for the trust placed in me by President Morehead and the UGA Athletic Association Board of Directors,” Georgia athletics director Josh Brooks said in a statement. “Serving in this role and working alongside our outstanding student-athletes, coaches and staff is truly the privilege of a lifetime.

“I also want to thank President Morehead and the Board of Directors for Coach Smart’s well-deserved contract extension. His success in the first eight years leading our football program is unmatched, and his generosity and leadership as part of our university community has made a lasting impact.” 

Georgia is looking to bounce back this week from its first loss of the season. The Bulldogs mounted a second-half charge against Alabama and took a lead in the fourth quarter. But one play after scoring the go-ahead touchdown, the Crimson Tide answered back as Ryan Williams took a 75-yard pass to the house to give Alabama the victory.