Texas coach Steve Sarkisian set to receive six-year deal worth $34.2 million
Texas has shattered all records and athletic department norms with new football staff contracts that will pay out millions in multiyear guaranteed deals.
The UT System Board of Regents is set to approve new football coach Steve Sarkisian’s six-year guaranteed contract worth approximately $34.2 million, a deal longer and more lucrative than what previous coaches Charlie Strong and Tom Herman received initially.
The Longhorns also will have offensive, defensive and special teams coordinators making at least $1 million annually, figures once considered unreasonable for assistants but now commonplace.
Sarkisian’s annual salary starts at $5.2 million for the 2021 season and escalates by $200,000 each year until it tops out at $6.2 million in 2026, according to the information posted late Friday in the UT regents' agenda.
All multiyear contracts or contracts that exceed $1 million in value need approval from the regents. They are scheduled to meet Wednesday and Thursday.
Money used within UT athletics is generated mostly through TV revenue, ticket sales and private donations. No public money is used to fund any aspect of the athletic department.
Sarkisian’s new contract has all the typical perks that UT head coaches receive, such as two courtesy cars, club membership, private airplane use and use of a suite on game days. He will also receive $250,000 in relocation and temporary housing allowances.
Sarkisian’s deal includes a “special one-time payment” of $1.2 million as a stay bonus on Dec. 31, 2024, something similar to what Herman had in his contract.
Sarkisian can receive a maximum of $675,000 in annual team performance bonuses, $100,000 for winning national coach of the year honors and $50,000 for being named Big 12 coach of the year.
UT athletic director Chris Del Conte has wasted no time getting other contracts done. The regents are set to approve contracts for most of the football staff.
Defensive coordinator Pete Kwiatkowski has agreed to a three-year deal worth $1.7 million annually, according to the regents' agenda. Offensive coordinator Kyle Flood will receive a three-year contract that starts at $1.1 million in 2021, then goes to $1.175 million in 2022 and $1.25 million in 2023.
What will really raise eyebrows nationally will be Jeff Banks’ new contract. The special teams coordinator and tight ends coach received a three-year deal worth $1 million initially that bumps up $50,000 the next two years to reach $1.1 million in 2023.
It’s believed Banks will become the nation’s first seven-figure special teams coach. He’s widely considered one of the nation’s top recruiters and a key takeaway from the Alabama coaching staff.
Running backs coach Stan Drayton, who was already on staff, will have an annual salary of $650,000 and see his deal run through the 2022 season. Receivers coach Andre Coleman, also a part of Herman’s former staff, will get a two-year contract worth $450,000 the first year and $500,000 the second.
Defensive line coach Bo Davis has a three-year deal that starts at $875,000 and moves up $25,000 in 2022 and 2023, according to the UT regents' agenda.
In the secondary, defensive passing game coordinator Terry Joseph received a two-year deal that starts at $750,000 and bumps up to $800,000 in 2022. Texas ex Blake Gideon, who will coach the safeties, received a two-year contract that starts at $400,000
Linebackers coach Jeff Choate received a two-year deal that pays $500,000 in 2021 and $575,000 in 2022. Strength coach Torre Becton’s contract has similar numbers — $500,000 in 2021 but $525,000 in 2022.
All of the UT assistants can receive up to 19% of their annual salary in team performance bonuses.
No contract information was posted for quarterbacks coach A.J. Milwee.