Mark Richt’s new contract with the Georgia Bulldogs has still not been signed.

With a subpar 5-3 record this season, Richt’s job security has been highly questioned — especially after an embarrassing 27-3 loss to the Florida Gators.

According to Dawg Nation, the new deal, which includes an $800,000-per-year raise through 2019, was drafted following the 2014 season and has already been approved by the UGA athletic association board.

Despite the rumblings around Athens, Georgia plans on honoring the unsigned contract, which would have a significant financial impact. In the event Richt were to be fired this year, he’d receive a total buyout of $4.1 million, which is $2.5 million more than under his current contract

“To me a handshake is an agreement and the board approved it. Everybody approved it,” Georgia athletic director Greg McGarity said Friday. “Just because somebody hasn’t signed it doesn’t mean we’re not going to honor it, if it ever reached that point.”

McGarity made it clear that the financial terms were not the reason the contract has yet to be signed.

“The issue is on language that has changed from his original contract to this new contract, which adds new language that deals basically with conduct,” McGarity explained. “It has nothing to do with buyouts. Even if the contract doesn’t get signed, we’d honor that. It has absolutely nothing to do with money or term or annual salary or compensation. It all has to deal with the terminology that has changed from his original contract.”

McGarity reinforced that Richt and UGA are focused on the upcoming game, and that outside parties shouldn’t jump to conclusions with Richt’s current contract situation.

“People can’t assume anything. We’re focused on the game Saturday and we have a lot of things going on. I don’t want people to think stuff’s already done. It’s not.”

Kickoff for Georgia-Kentucky is set for 12:00 p.m. ET from Sanford Stadium.

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