New Round of Hefty Pay Raises for Football Coaches
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The University of Florida may, like many major universities, be grappling with serious cuts to its academic and other budgets. But the university has in all likelihood just set off another round of eye-popping pay increases for the country's biggest-time college football coaches with its decision Monday to give Coach Urban Meyer a six-year contract worth $4 million a year (up from his current $3.25 million). Meyer's Gators have won the (mythical) national championship in two of the last three years, and Florida's president, Bernie Machen, said this spring that Meyer should and would be compensated like one of the best coaches in the country. The raise makes him the best paid coach in the Southeastern Conference, but he may not have that status for long, Sports Illustrated surmises: Auburn and Louisiana State Universities are reportedly negotiating contracts for their coaches, both of which could easily surpass Meyer. So much for the recession.