University of Illinois trustees have approved a contract with football coach Lovie Smith that will pay him at least $21 million over six years. Smith is a longtime NFL coach who was hired to replace Bill Cubit. They approved initial terms for Smith after he was hired in March. The contract was backloaded to pay him $10 million in salary over his final two years.
The final contract now moves $2 million of that money to earlier years in his contract. University spokeswoman Robin Kaler declined to say what the buyout terms are if Smith is fired, because he and others still need to sign the contract. In addition to his salary, Smith is eligible for up to $8 million in bonuses.
