The University of Arkansas has agreed in principle to an extension that will keep its athletics director under contract through 2017.
If approved by the university's board of trustees, Jeff Long will make $900,000 annually before incentives, according to a letter written to Long by UA chancellor G. David Gearhart, with a buyout of $1 million the first two years.
Long's university contract will be worth $500,000, with an additional $400,000 paid to him by The Razorback Foundation, Inc. the first three years for speaking engagements and a savings fund.
After incentives, Long could make up to $1.2 million per year through 2016. Incentives are primarily academic-based, but also include stipulations for personal conduct, football bowl game appearances, NCAA Tournament appearances in other sports and maintaining a balanced budget for the athletics department.
He will also be paid a $50,000 signing bonus before the end of 2012.
"As I shared with you during your annual evaluation earlier this year, I am very appreciative of your outstanding leadership of the Athletics Department, particularly during very challenging times, and your commitment to the University of Arkansas," Gearhart wrote.
Long, who fired Arkansas football coach Bobby Petrino amid a public scandal earlier this year, was hired to replace Frank Broyles in September 2007. His current contract runs through next June 30 and is worth $450,000 before incentives.
As part of the amended contract, if fired without cause, Long would receive $1 million each year through the end of the contract.