CBS Sports reporting Coach Malzahn close to accepting reduced buyout
AUBURN, Ala. – Auburn head coach Gus Malzahn is on the verge of accepting a reduced buyout from the university, CBS Sports reported Tuesday evening.
CBS Sports cited “athletic department sources” in their report. The article said that Auburn President Steven Leath laid out an offer to reduce Malzahn’s buyout and remove the possibility of paying buyouts for assistant coaches — assuring that Chip Lindsey would remain Offensive Coordinator unless he chooses to leave.
The meeting between the University President and the head coach reportedly took place on Sunday. CBS Sports shared that President Leath left Tuesday morning for a meeting in Washington, D.C. then left negotiations in the hands of trustee, Raymond Harbert.
Malzahn spent Monday night on the road recruiting then left for another recruiting trip Tuesday morning. A picture of Malzahn was tweeted out Tuesday afternoon with Tight End commit, Luke Deal. CBS Sports reporting that Malzahn is not expected to return to the Plains until Tuesday night.
Malzahn’s contract is currently 7-years and worth $49 million with 75 percent guaranteed. Since then, Auburn has gone 7-7 after starting the season ranked 8th in the country. A buyout under Malzahn’s current contract would cost close to $32 million with some $15 million due in 30 days then the rest paid in four annual installments.
In October, the USA Today released their annual database of college football coaches salaries with Alabama head coach, Nick Saban, topping the list and Coach Malzahn coming in at 5th on the list. According to the database, Malzahn also has one of the highest buyouts in college football his contract lists that buyout at $32 million — Coach Saban’s is $33 million.