longhorns, deep pockets
Steve Sarkisian is college football's latest $10 million man.
The University of Texas System Board of Regents on Thursday approved a raise and contract extension for the Longhorns coach that boosts his guaranteed salary to $10.3 million this year and signs him through 2030.
The four-year extension makes Sarkisian one of the highest paid coaches in the country after Texas won the Big 12 last season and earned its first appearance in the College Football Playoff.
The contract includes $100,000 annual raises that will push Sarkisian’s guaranteed salary to $10.9 million by 2030. He also gets a one-time $300,000 bonus payment and 20 hours of personal use every year on the school’s private plane.
Sarkisian also is eligible to earn more than $1.5 million in bonuses if the Longhorns win a national championship.
His original contract called for him to get paid $5.8 million in 2024. According to the regents’ agenda, the raises are a 78% overall increase in Sarkisian’s guaranteed compensation.
The contract approval was expected. The extension was announced in January and the board published financial details in their meeting agenda last week.
Texas finished 12-2 and ranked No. 3 last season after a 37-31 loss to Washington in a national semifinal that came down to the final play. The Longhorns won the Big 12 in their final season in the league. Texas moves into the Southeastern Conference next season.
Sarkisian, 49, is 25-14 in his three seasons at Texas.
Texas regents also approved contract extensions for tight ends coach Jeff Banks, offensive coordinator Kyle Flood and defensive coordinator Pete Kwiatkowski.