Lane Kiffin has signed a new 10-year contract to remain at Florida Atlantic, Owl Access reported Thursday.
The site reports that Kiffin and FAU AD Brian White signed the contract June 13, and FAU president Dr. John Kelly completed the deal with a June 20 signature.
The new contract does not significantly alter the structure of the original 5-year deal Kiffin signed in December of 2016. Most importantly, the buyout remains unchanged: Kiffin would owe the school $2 million should he leave before January 2019. The buyout then drops $500,000 per year through 2021.
Kiffin’s salary was also not changed; it remains at $950,000 per year, but the new contract — which runs through 2027 — adds an annual $50,000 retention bonus. The new deal also increases Kiffin’s bonus structure. For instance, his bonus for leading FAU to a national title grew from $750,000 to $1 million, and his bonus for winning the Conference USA Coach of the Year award doubled from $7,500 to $15,000.
Kiffin led the Owls to an 11-3 mark and the program’s first Conference USA championship during his first season in Boca Raton. FAU closed the year on a 10-game winning streak — those 10 wins came by an average of 24.8 points — and open the 2018 season at Oklahoma on Sept. 1 (noon ET, FOX).
As always, stay tuned to The Scoop for the latest.