LEXINGTON, Ky. (LEX NEWS) — Mitch Barnhart's tenure as University of Kentucky Athletics Director ended June 30, after more than 15 years leading the program — and a newly signed amended contract reveals the financial terms as he moves to a part-time position with the university, reporting directly to the president beginning on July 1.
According to a 2026 Second Amendment to Employment Contract signed by Barnhart and UK President Eli Capilouto, Barnhart completed his service as Athletics Director on that date.
In the part-time role, which runs through January 31, 2030, Barnhart will focus on fundraising and other assigned duties. The contract sets his annual salary for that position at $40,000.
In addition to the part-time salary, the university agreed to pay Barnhart a severance package totaling more than $3 million, structured as follows:
- $760,000 on January 1, 2027
- $760,000 on January 1, 2028
- $760,000 on January 1, 2029
- $780,000 on December 31, 2029
The contract also confirms Barnhart received a $650,000 retention incentive for the contract year ending June 30, 2026, as outlined in an earlier amendment signed March 2.
Under the terms of the second amendment, Barnhart will not be entitled to retention compensation or incentive compensation in his new part-time role. He will, however, continue to receive standard health and benefits coverage available to similarly situated part-time university employees.
The contract also includes a lifetime benefit: Barnhart and his wife will receive 10 complimentary tickets to each University of Kentucky home football game, men's basketball game, and baseball game, as well as access to Club C at Rupp Arena at Central Bank Center for each home men's basketball game. The tickets may not be resold or exchanged for anything of value. Barnhart may also request and purchase additional tickets.
University spokesperson Jay Blanton said in a statement Thursday afternoon that the agreement with Barnhart will be paid with private funds.
"The agreement executed with Mr. Barnhart will be paid for with private funds, raised by President Capilouto. It reflects Mitch's long tenure as Athletics Director and is consistent with other step-down provisions at similar institutions. It is $1.6 million less than what was negotiated in Mr. Barnhart's 2023 provision and more than $700,000 less than the most recent contract amendment. It also eliminates additional benefits such as tickets and courtesy vehicles."
