New Texas women’s basketball coach Vic Schaefer’s seven-year contract is set to be approved by the University of Texas System Board of Regents this upcoming week.
The contract calls for Schaefer to be paid $1.8 million in each of his first three years. During the 2023-24 and 2024-25 fiscal years, his salary will bump to $1.9 million. Schaefer, 59, will be paid $2 million during the 2025-26 fiscal year and the final year calls for a salary of $2.1 million.
If Schaefer’s contract is approved, he will collect a relocation fee of $300,000. A one-time payment of $200,000 is also on the books for the 2024-25 fiscal year.
Including base pay and benefits, former UT coach Karen Aston was paid $745,000 during her final year with the Longhorns. Texas announced on April 3 that it would not renew the contract of Aston, who had led the Longhorns for eight seasons. Two days later, Schaefer was lured away from Mississippi State.
Schaefer went 221-62 over an eight-year run at Mississippi State. His Bulldog teams reached the NCAA’s championship game in 2017 and 2018. Two years ago, Schaefer signed a four-year extension that called for an average salary of roughly $1.6 million. At the time, UConn’s Geno Auriemma was the sport’s highest-paid coach ($2.4 million).
Schaefer’s employment agreement is among the items on the agenda for the two-day regents meeting that begins on Wednesday.
Schaefer will not be the only well-compensated member of his coaching staff. Schaefer’s three assistant coaches — Johnnie Harris, Dionnah Jackson-Durrett and Elena Lovato — will make between $170,000 and $300,000 during the 2020-21 fiscal year. Aston’s three assistants averaged a salary of $155,813.
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