Urban Meyer has officially been announced as the Ohio State Buckeyes next head coach, a move that was rumored for quite awhile but only came to fruition early Monday morning. The school released Meyer's contract details prior to a press conference on Monday afternoon.
Meyer will make a salary of $4 million per year in the six-year contract, but could make quite a bit more based on certain bonuses.
The former head coach of the Florida Gators will receive supplemental compensation bonuses based on achieving certain milestones including academic accomplishments for the football program and retention payments of $450,000, $750,000 and $1.2 million if Meyer remains with the school through January 31, 2018 -- payable every two years, starting in 2014.
The university added that "in concluding this agreement, the university undertook certain benchmarking of comparable contracts."
For more on Urban Meyer and the Ohio State Buckeyes, be sure to visit SB Nation's Along the Olentangy.