It cost $8.78 million for Auburn to buyout Gene Chizik and staff
Auburn wanted to buyout the contract of former head coach Gene Chizik so badly the school was willing to carve out $8.78 million just to move on. According to a report from Al.com, Auburn set aside nearly that much to buyout the contracts of Chizik and the assistant coaching staff before bringing Gus Malzahn back to Auburn.
As reported, Auburn was originally prepared to spend $11.09 million to buyout the various contracts but the total was reduced as coaches found jobs elsewhere. Chizik, who led Auburn to a national championship just four seasons ago, received a buyout of $7.5 million to account for the remainder of his money owed on his contract. Auburn will pay Chizik a little more than $200,000 per month through the 2015-2016 fiscal year.
The remainder of the $8.78 million in buyout money was reserved for former assistant coaches Scot Loeffler, Brian VanGorder and Trooper Taylor. All three coaches have received their final buyout payments.
Auburn worked in the red last year, but with the buyout costs starting to trim down and with a nice boost from revenue sharing through the addition of the SEC Network, Auburn should be in decent shape a year from now.