Listen to Austin 360 Radio

Texas regents expected to approve Chris Beard’s contract, raises for David Pierce, Jerritt Elliott

Texas athletic director Chris Del Conte introduces new men's basketball coach Chris Beard at a press conference in April. Beard's contract is expected to be approved Friday by the UT System Board of Regents.

Texas men’s basketball coach Chris Beard joked in April that “I don’t coach for money.” Still, Texas officials are paying him like an elite coach.

The UT System Board of Regents is scheduled to formally approve Beard’s new contract during Friday’s meeting to discuss the school’s invitation to the Southeastern Conference.

Beard has agreed to a contract worth a flat $5 million annually for the next seven seasons through March 2028, according to details posted in the UT regents’ agenda book. It’s just under the $5.2 million that football coach Steve Sarkisian is scheduled to make this season.

More:Chris Beard officially takes over at Texas and is all about one thing: winning

Beard’s contract has all the normal bells and whistles of a UT deal. He can make up to $850,000 total in performance bonuses. Beard receives two dealer cars, 20 hours of private airplane use, athletic game tickets and a one-time payment of $250,000 as a moving allowance.

The university also must pay Texas Tech, Beard’s previous school, a one-time payment of $4 million to buy out his contract with the Red Raiders.

Contracts for Beard’s entire staff were also submitted to the UT regents. 

Former UTEP coach Rodney Terry was 163-156 in 10 seasons as a head coach before joining Chris Beard's staff as an assistant at Texas.

Texas ex Chris Ogden, who stepped down as head coach at UT-Arlington, will make $507,500 annually as Beard’s managing director through March 2024. Lead assistant coach Rodney Terry will earn $500,000, and strength coach John Reilly will earn $300,000. Their contracts run through 2024 as well.

More:‘I wanted to be a part of that’: Texas assistants talk about jumping on board with Beard

Contracts for assistants Jerrance Howard ($407,500) and Ulric Maligi ($400,000) will run through 2023.

Also, the UT regents are scheduled to approve raises for baseball coach David Pierce and volleyball coach Jerritt Elliott after their teams had excellent seasons.

Pierce’s new contract will pay him $1.2 million annually through 2026 after the Longhorns finished in the top three at the College World Series. Elliott’s new contract jumps to $557,500 through December 2025. His team reached the national championship match this spring.

Contact Brian Davis by phone or text at 512-445-3957. Email bdavis@statesman.com or @BDavisAAS.