Lane Kiffin is the new head coach at FAU. It’s a done deal.
The soon-to-be former Alabama offensive coordinator was introduced to the media as the Owls coach on Tuesday morning.
In the moments following the press conference, information on the details of his contract with Florida Atlantic were revealed.
According to the Sun Sentinel’s Matthew DeFranks, Kiffin will receive an annual salary of $950,000 over the course of a five-year contract.
Contract details for Lane Kiffin: $950,000 a season over the five years. #FAU
— Matthew DeFranks (@MDeFranks) December 13, 2016
Kiffin reportedly also will have a buyout attached to his contract, which is believed to begin at $2.5 million after the first year with FAU and decrease by $500,000 each season that he stays with the Owls.
Lane Kiffin received 5-year, $4.75M deal w/FAU. Buyout is $2.5M 1st year & reduces $500,000 each year after that
— Brett McMurphy (@McMurphyESPN) December 13, 2016
Kiffin reportedly earned in the range of $1.4 million as the Alabama offensive coordinator in 2016, and these contract details confirm an expected pay cut to become a head coach once again. Reports of Kiffin potentially going to LSU to work under Ed Orgeron as an offensive coordinator also presented rumored dollar figures that would far exceed his salary at FAU.
Apparently, money isn’t everything for the former USC, Tennessee and Oakland Raiders coach.