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Posted at 04:18 PM ET, 01/04/2012

Virginia football coach Mike London to receive $2.1 million salary in 2012


Virginia Coach Mike London’s contract runs through 2016. (John Amis - AP)
Virginia football coach will make $2.1 million in guaranteed annual salary in 2012, $2,205,000 in 2013, $2,330,213 in 2014, $2,446,724 in 2015 and $2,568,979 in 2016.

The Post’s Steve Yanda obtained a copy of London’s contract through an open-records request.

Last week, Virginia announced that London had agreed to a two-year contract extension that increases his guaranteed annual compensation and provides for additional compensation for the assistants on his staff. The $2.1 million London will be paid this season is a a 23.5 percent increase from the original five-year contract he signed in December 2009.

This season, London’s second in Charlottesville, Virginia finished 8-5 and advanced to a bowl game for the first time since 2007. The Cavaliers fell to Auburn, 43-24, in the Chick-fil-A Bowl on New Year’s Eve.

London’s contract also includes:

— An annual salary pool for his assistant coaches of up to $2.15 million. That pool increases 5 percent each year.

— A $750,000 longevity bonus if London is still Virginia’s coach on Jan. 15, 2015. The school will have to pay him the $750,000 if it terminates London’s contract without cause before that date.

— A $2 million buyout clause until the start of the 2014 season. If no new contract is reached with Virginia by then, the buyout goes away.

— Virginia initially gave London a loan on the buyout due to Richmond, where London was head coach in 2008 and 2009. London still owed $452,760.18 on that loan. The new contract forgives that amount.

In other contract news, Virginia defensive coordinator Jim Reid has signed a two-year contract that will pay him $395,000 annually, nearly an 11 percent raise.

By  |  04:18 PM ET, 01/04/2012

 
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