ATHENS — Georgia had built-in a “liquidated damages” clause for former offensive coordinator Jim Chaney for the sort of lateral coaching move he made to Tennessee on Jan. 9.
AJC-DawgNation reported when Chaney left that he had two years remaining on his contract, and on Thursday night UGA released the terms of Chaney’s contract which included the buyout (liquidated damages) numbers.
Jim Chaney’s current contract runs through June of 2021 – two more seasons. I am not sure how that reflects on his coaching future, but that contract info comes directly from a Georgia athletic department spokesman.
— Mike Griffith (@MikeGriffith32) January 7, 2019
Chaney’s move was not lateral in the financial sense. Chaney will make an average of $1.6 million with the Vols over the next three years after earning $950,000 at Georgia in 2018.
Bulldogs coach Kirby Smart promoted co-offensive coordinator James Coley to offensive coordinator two days after Chaney left and awarded him the same $950,000 salary. Coley had replaced Chaney as the quarterbacks coach following the 2017 season, essentially setting up the promotion.
The Bulldogs’ assistant salary pool is considerably lighter than a season ago with the departure of Chaney and former defensive coordinator Mel Tucker. Colorado hired Tucker to be its head coach, relieving UGA of his $1.5 million salary.
The Georgia assistant coaching staff is at $6.045 million for 2019 — down from $6.42 million in 2018.
According to Chaney’s contract, obtained on Thursday by DawgNation through a FOIA request, Chaney:
“Must make a lump sum payment to the Association, within sixty (60) days after the effective date of termination, equal to twenty percent (20%) of all remaining unpaid Base Salary ($390,000 per year) and Supplemental Compensation payments (560,000) that would otherwise been payable to Chaney between the effective date of termination and June 30, 2021 (“Liquidated Damages Payment”).
Tennessee paid the $500,000 Chaney was deemed to owe UGA.
Had Chaney left Georgia for a head coaching at the NFL or FBS level, neither he nor the new team/program would have owed UGA the so-called Liquidated Damages Payment.
Chaney’s contract also revealed that Georgia granted Chaney an $850 per month car allowance for a lease or purchase, and the school reimbursed him for his car insurance.
Georgia’s contract with Chaney also entitled the former offensive coordinator “to receive up to a maximum of One Thousand Six Hundred Dollars ($1,600.00) worth of shoes, apparel, or equipment manufactured by such manufacturers/suppliers.”
To see contract, click here: Jim Chaney