The University of Tennessee Athletics Departments announced new contracts for two of the school’s high profile coaches – Phillip Fulmer and Bruce Pearl – on Monday. Discussions regarding Pat Summitt’s contract are ongoing.
“I can say unequivocally that we have two of the best coaches in America, and I am excited to know they will continue to be ambassadors of our great university for many years to come. Their roles in the community, as fundraisers for both athletics and the university itself are unparalleled,” said UT President John Petersen.
“UT Athletics has a tremendous economic impact on our University, city and state,” Peterson continued. “These coaches and their respective programs have helped put UT and Knoxville on the map.”
Both Fulmer and Pearl received contract extensions and raises.
All funding for the athletics department, including coaches’ salaries, is from monies generated by athletics’ resources and not from appropriated funding by the state of Tennessee or other university-related revenues.
Phillip Fulmer – Head Football Coach
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Fulmer’s new deal is worth $2.4 million for the 2008 season and escalates to $3.3 million in 2014 for an average of $2.99 million a year over the length of the agreement. It includes a $1 million longevity bonus in December 2012 to reward him for his 20 years as head coach of the Vols and automatic raises of $150,000 each year. He will receive additional automatic raises for meeting certain goals: