REPORT: Florida set to pay Sumrall $7.5 million a year

Florida football is set to hire Tulane's Jon Sumrall as the next head coach of the Gators, but everyone wants to know just how much money he'll be paid to join the SEC.

In the age of buyouts and NIL, money is everything. If a coach doesn't get it done in three or four seasons, boosters and fans start to ask what the price tag is to move on from the perceived failure. Billy Napier is getting north of $20 million to not coach the Gators. His predecessor, Dan Mullen, got a $12 million check after signing an extension five months earlier.

Napier got $7.47 million a year (24th in the country) and Mullen moved from $6 million a year to $7.57 million (6th at the time) when he signed that contract extension. Despite the former making less per year, Napier is getting paid more than Mullen not to coach. Mullen's $12 million buyout was firm, while Napier's contract stipulated that he got 85% of his annual compensation.

Also, Napier's contract said that he is due 50% of his buyout, meaning he's already been paid more than $10 million and will continue to earn $2.65 million payments through 2029.

Jon Sumrall contract details, per reports

Inflation has hit everything and everyone over the past four years, so the big question is, how much is Sumrall getting paid?

According to ESPN's Pete Thamel, Florida and Sumrall have agreed in principle to a six-year, $7.5 million deal with "significant incentives tied to the College Football Playoff."

This deal is significantly cheaper than what it would have cost to pry Lane Kiffin away from Ole Miss and outbid LSU. Of course, Sumrall is a Group of Five coach with no Power 4 head coaching experience, and Kiffin is the Cinderella of the ball coaching carousel.

When Florida shifted its focus from Kiffin to Sumrall, FootballScoop reported that the offer could be as high as eight figures. Tulane reportedly offered Sumrall a contract extension that paid over $4 million annually, which puts Florida's deal right in the middle of those two figures.

While no buyout information is available, and hopefully Florida never has to worry about it, the total contract value is $45 million. It's a safe assumption that Florida would have to pay a pretty penny to get out of the deal early, again. Napier's contract may have provided some baseline to work with.

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This article originally appeared on Gators Wire: Florida football contract details for newly hired coach Jon Sumrall