Kliff Kingsbury contract buyout fee from the Arizona Cardinals is worth 33 million dollars. Kliff was sacked by the Cardinals on 9 January 2023.
The former American football quarterback turned coach, Kliff inked a four-year deal with Arizona in 2019 binding him to the club until 2022.
Then before the original deal expired, the club offered a contract extension in 2022. It was a new six-year agreement locking in his tenure with the club through 2027, with an annual salary of more than $5.5 million.
After graduating from Texas Tech, Kingsbury was drawn into the NFL in the sixth round of the 2003 NFL draft by the New England Patriots. Then following his five-year gigs at several major clubs in the league, he announced his retirement from playing in 2007 and ventured into coaching.
Kliff Kingsbury Was Fired By the Cardinals
Kliff Kingsbury was fired by the Arizona Cardinals after serving as the head coach of the club for four seasons from 2019 to 2022.
But the result of sacking the former Buffalo Bills player came at a cost. Kliff signed a new contract with the Cardinals in March 2022 to remain at the club till 2027. Thus, according to the contract, the club has to pay all the remaining salary amount to him.
The buyout clause is a contractual provision that specifies the amount of money that the club must pay to the coach if they terminate the contract before the agreed-upon date.
After agreeing to a new six-year deal just last year, Arizona is now responsible for paying a significant buyout fee to Kliff as compensation.
The deal, which was worth 5.5 million dollars per year, would have seen the coach receive a total of $33 million over the course of six years.
However, with a poor run of results, the 43-year-old could not enjoy the full extent of his salary and only lasted for one season following the new contract.
The Cardinals parted ways with Kliff in early 2023, which means he would receive tons of money as a settlement for getting sacked.
Kingsbury Took Some Time Off
Following his dismissal, Kingsbury wasted no time in making his exit and promptly departed for Thailand, where he enjoyed an opulent vacation funded by the substantial financial settlement he had received.
Instead of interviewing for the job at other NFL clubs, he simply skipped that part for later and skedaddled on to an excursion in the South Asian country.
Kliff said he wanted some fresh air and a tension-free life away from football and the profession for a short period before he returned back as a new member of the coaching staff at the University of Southern California.
Kliff Kingsbury Will Be Joining USC Trojans
Kliff Kingsbury is all set to join the USC Trojans as a senior offensive assistant. He will be working primarily with the quarterbacks.
The University of South California football team announced his appointment on Tuesday, 11 April 2023.
Upon being dismissed by the Cardinals in early 2023, Kiliff's four-season stint at the National League as a manager ended.
He took his time off for a certain period before making himself available for the new role in a new club. But one thing Kliff made sure that he would not return to NFL any time soon.
Then in April 2023, USC contacted him to join the school's staff team. Kingsbury agreed to join his former team Trojans, and the paperwork was completed in no time.
Kingsbury's tenure at USC will provide him with the prospect of working alongside Caleb Williams, the current Heisman award holder and an esteemed junior quarterback, anticipated to be a top NFL draft pick in 2024.
The club has yet to disclose any specifics regarding the terms of the contract and compensation package offered to Kingsbury. However, it is apparent that his remuneration would be notably lower than his earnings during his time in the NFL.
During his tenure as a head coach at Texas Tech, the 2004 Super Bowl champion was making an annual earning of $4 million when he left the team in 2018. Hence, Kliff Kingsbury USC salary is expected to be in excess of $4 million, which he was getting previously.
Additionally, Kliff has previously worked at USC as an offensive coordinator but had to leave after being sought after by multiple NFL teams for head coach and offensive coordinator positions.
Kingsbury stepped down from his post, citing a buyout agreement clause that he found insufficiently low, enabling him to pay the institution to terminate his agreement and sign with the Cardinals in 2019.
Kliff Kingsbury Net Worth 2023
Kliff Kingsbury net worth in 2023 is estimated at $15 million. He was earning $5.5 million a year at the Arizona Cardinals by 2022.
Moreover, in March 2022, Kliff inked a lucrative deal with the Arizona-based NFL franchise, which escalated his salary even more. But the exact numbers are kept confidential.
His expected salary would position him in the center of the spectrum of NFL head coaches, ahead of notable names such as Matt LaFleur and Mike McCarthy.
In contrast, Sean McVay, who has recently won a Super Bowl, is purportedly earning between $15 million and $18 million, making him the most highly compensated head coach in the NFL.
Kingsbury Salary Breakdown
Kliff Kingsbury salary was $10.5 million over 5 years while coaching in NCAA tournaments at Texas Tech, which amounts to an annual salary of $2.1 million from 2013 to 2014.
He received a $1 million raise increasing his annual salary to $3.5 million in August 2014.
Furthermore, in 2015, Kliff signed a new contract worth $9.1 million, with a $200,000 raise every year through 2020.
It implies that his annual salary increased to $3.7 million in 2015 and continued to increase by $200k each year, reaching a maximum of $5.5 million in 2020.
His earnings increased significantly from $2.1 million in 2013 to a maximum of $5.5 million in 2020. The logarithmic increase in Kingsbury's income played a substantial role in the growth of his wealth over the years.