Kiffin signs contract

Sports Network | October 21, 2009

Knoxville, TN (Sports Network) - The University of Tennessee head football coach Lane Kiffin has officially signed his contract.

The Knoxville News Sentinel reported Tuesday that Kiffin was delayed in signing the agreement due to lawyers adjusting details of the contract. Kiffin was introduced in December and had been working under an agreement in principle.

The six-year deal is worth more than $14 million between base pay, compensation for radio/television services, compensation from equipment, shoe and apparel contracts, and compensation from endorsement or consultation contracts.

Should the university choose to buy out the contract, it will owe Kiffin $7.5 million in 2009 or 2010, $6.25 million in 2011 or 2012, and $5 million in 2013 or 2014.

If Kiffin elects to buy out the contract, he would owe $1 million or less dependant on the year.