Big money: Texas coach Sarkisian getting salary increase to more than $10 million per year

Sat, Feb 17, 2024
NCAAF News (AP)

AUSTIN, Texas (AP) - Texas coach Steve Sarkisian's contract extension will push his guaranteed salary to $10.3 million this year, making him one of the highest-paid coaches in the country after leading the Longhorns to the Big 12 championship and their first appearance in the College Football Playoff.

Texas announced the contract extension through the 2030 season last month but had not released financial details. The deal is set to be approved next week by the University of Texas System Board of Regents, which on Saturday published the details in the board agenda.

The extension includes $100,000 annual raises that will push Sarkisian's guaranteed salary to $10.9 million by the final year. 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 is eligible to earn more than $1.5 million in bonuses if the Longhorns win a national championship.

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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.

"Coach Sark is an incredible coach, a first-class person and tremendous leader of men," Board of Regents Chairman Kevin Eltife said on Jan. 14 when Texas first announced the extension. "Coach Sark has brought the pride and passion back in our program."

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.

"We're just getting started," Sarkisian said in January. "We've been building this program for long-term success.

Texas also is extending the contracts of tight ends coach Jeff Banks, offensive coordinator Kyle Flood and defensive coordinator Pete Kwiatkowski.

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AP college football: https://apnews.com/hub/ap-top-25-college-football-poll and https://apnews.com/hub/college-football