Auburn coach Tony Barbee formally signs contract thru 2017

BY Evan Woodbery
9 January 2012

AUBURN, Alabama -- Head basketball coach Tony Barbee, who has worked without an official employment contract for nearly two years since being hired at Auburn, has formally agreed to a deal that pays him $1.5 million annually through 2017.

Barbee had been working under a "letter of agreement" since being hired to replace Jeff Lebo after the 2010 season.

Auburn released the formal employment contract Monday night, shortly before the BCS national championship game. The contract was signed Dec. 7, 2011.

"I'm glad it's signed, but the contract was a bigger deal for everybody else (except) Auburn and me," Barbee said. "I was very comfortable with the letter of agreement we were working under. It's part of negotiations; things don't always go as quickly as you want them to go."

Barbee said he feels no differently after signing the contract.

"Auburn had committed to me; I had committed to them," he said. "Whether I had a signed contract or not, it was not a big deal. Everybody else was making a big deal out of it, I don't know. I'm focused on coaching this team and running this program."

In addition the $1.5 million annual compensation, Barbee can earn up to $600,000 in additional bonuses and incentives tied to on-court success and his team's academic achievement.

The contract includes a mutual buyout clause. If Barbee were fired, he would be owed $750,000 for each year remaining on the contract. If Barbee left for another school, he would owe $1 million overall. That sum decreases by $250,000 each year.

Auburn paid off a $233,000 buyout from Barbee's contract when he was hired. If Barbee remains through 2016, that debt will be forgiven.

Barbee is 21-25 in his second season at Auburn and 103-77 as a head coach overall.