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Former Athletic Director Mitch Barnhart’s time at the helm ended on June 30th. The longtime Kentucky Wildcats AD will receive a hefty parting gift as he officially retires.
On Thursday, Jon Hale at the Herald-Leader reported new information about Barnhart’s retirement. Kentucky will pay Barnhart $3.2 million as a retirement settlement. The money will be split up over the next few years as he’ll receive payments from the school in 2027, 2028, and twice in 2029.
The first three payments will be $760,000 each, with the last payment slightly higher at $780,000. The money will come from private funds, according to UK spokesman Jay Blanton.
This new deal will be about $700,000 less than Barnhart was originally supposed to make. The benefits will not be as planned, as the free tickets, courtesy vehicles, and all the bells and whistles will not be included.
However, Barnhart will now be classified as a part-time employee of UK who reports directly to the president. He will be tasked with fundraising and any other duties as assigned, according to Hale’s report. Barnhart will be paid a $40,000 annual salary for that work and continue to be eligible for insurance benefits. That salary is part of the overall $3.2 million settlement.
This agreement was made on Barnhart’s final day in Lexington, as he and UK President Eli Capilouto signed off on this.
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