FAYETTEVILLE, Ark. (AP) — A nonprofit supporting University of Arkansas athletics will pay fired head football coach Bret Bielema up to nearly $12 million over three years in a buyout agreement.
The Arkansas Democrat-Gazette reports that the buyout amount announced Tuesday between Bielema and the Razorback Foundation settles a disparity between the coach’s contract with the University of Arkansas-Fayetteville and a separate agreement with the foundation. The two agreements had set his severance pay at $5.9 million and $15.4 million respectively.
Foundation official Scott Varady says that Bielema’s representatives “cooperated in developing the necessary mechanisms” to calculate the former coach’s buyout.
The university fired Bielema in November after the Razorbacks lost their final game of the season to the University of Missouri, sealing a 29-34 record over his five-year span at the school.
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Information from: Arkansas Democrat-Gazette, http://www.arkansasonline.com