Times Are Tough in a Recession

They threw the piggybank at Georgia's Mark Richt on Thursday. He got a raise of $4.8 million for the final eight years of his contract, boosting his yearly salary to $2.8 million.

But Richt is barely a blip on the Southeastern Conference salary radar. Alabama's Nick Saban ($3.75 million a year), Louisiana State's Les Miles ($3.5 million), Florida's Urban Meyer ($3.25 million) and Arkansas' Bobby Petrino ($2.85 million) all make more than Richt, who is currently tied with Auburn's Tommy Tuberville on the salary scale. And Tuberville's deal calls for a $200,000 raise at the end of the season, which will put him ahead of Richt.

Georgia athletic director Damon Evans had to defend Richt's new contract after it was announced.

"We've got to do things we think are fair. We've got to maintain a balance. I don't want us to always be held to what other institutions are doing," Evans said, according to Chip Towers of the Atlanta Journal-Constitution.

Only $2.8 million? Hopefully Richt — along with the rest of the overpaid coaches — will be able to make of go of it in 2008.