Fulmer gets $3M, Pearl $2.3M average yearly pay in new deals
KNOXVILLE, Tenn. (WVLT) -- New contracts are being handed out to two University of Tennessee coaches.
UT head football coach Phillip Fulmer has been given a new deal worth an average of $2.99 million annually. Starting in the 2008 season, Fulmer's contract is worth $2.4 million and climbs to $3.3 million by 2014.
Concerning Fulmer's new contract Wednesday morning, UT Men's Athletic Director Mike Hamilton said, "There's a built-in annual increase based on performance, where he can actually have additional increases and we think it's a very fair package in the context of what's going on out there nationally."
Fulmer's new contract also included a $1 million longevity bonus in 2012 for 20 years as head coach, and an automatic $150,000 annual raise.
Fulmer could get up to a $1 million automatic pay increase if he meets certain goals including an SEC Championship, playing in a BCS bowl game, and winning the BCS National Championship.
Men's head basketball coach Bruce Pearl also received a contract extension through 2014 as well as a new deal worth an average of $2.3 million a year. Pearl's deal starts at $1.6 million for the 2008-09 season and goes up to $2.2 million by 2014, and includes a $1.5 million upfront bonus.
Pearl's contract buyout amount is $2.5 million, and decreases to $1 million over the next five years.