Georgia athletic director Greg McGarity received a two-year contract extension Thursday that will run through December 2017.
McGarity, who was hired in September 2010, is getting a $40,000 raise to bring his annual salary to $500,000 effective July 1. He will receive another raise of $50,000 next summer.
"Two years into our relationship with Greg McGarity, he has proven to be not only competent but extraordinary," university president Michael Adams said.
Georgia's Athletic Association Board of Directors' executive committee approved the adjustments to McGarity's financial agreement and at last sealed a new pact for football coach Mark Richt. It had been announced previously that Richt would receive a three-year extension through the 2016 season and that his salary of $2.81 million would remain unchanged but that performance-based incentives would double.
Under terms of the new contract, Richt will not owe Georgia anything if he leaves, and he would receive $4.8 million if he were to be fired after the upcoming season without cause. Those totals drop to $2.4 million after the '13 season, $1.6 million after the '14 season and $800,000 after the '15 season.
"Mark Richt is not only the dean of SEC coaches," Adams said, "but he is a person who has represented the University of Georgia extraordinarily well since he arrived in December of 2000."
David Paschall is a sports writer for the Times Free Press. He started at the Chattanooga Free Press in 1990 and was part of the Times Free Press when the paper started in 1999. David covers University of Georgia football, as well as SEC football recruiting, SEC basketball, Chattanooga Lookouts baseball and other sports stories. He is a Chattanooga native and graduate of the Baylor School and Auburn University. David has received numerous honors for ...