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