More details of Gus Malzahn’s contract terms with Auburn

Gus Malzahn will earn $2.3 million a year for five years as Auburn’s head football coach, according to a letter of agreement between the school and Malzahn released Wednesday. Malzahn will earn $500,000 in base salary with the remainder of his salary coming from endorsements, radio, television and internet rights, fundraising and personal appearances. 

He can earn an additional $1.5 million annually in academic and performance bonuses, according to the letter, though the requirements to earn those bonuses are not spelled out in the letter.

If Malzahn is fired without cause, Auburn will owe him  a buyout of his $500,000 annual base salary for the remainder of contract. Auburn is also paying Malzahn’s $700,000 buyout from Arkansas State in the form of a loan which will be forgiven at 20 percent a year for the five years of his contract at Auburn.

Malzahn, who served as Auburn’s offensive coordinator from 2009-11, was named Auburn’s 26th head football coach on Tuesday. He served one year as coach as Arkansas State, leading the Red Wolves to a 9-3 record, the Sun Belt conference championship and a berth in the GoDaddy.com Bowl.

Auburn fired Gene Chizik as coach following a historically poor 3-9 season less than two years after winning the 2010 BCS National Championship. Chizik earned $3.5 million in salary and when he was fired on Nov. 25, the school bought-out the remaining three years of his contract for $7.5 million.