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USA Today
22-02-2025
- Business
- USA Today
Steve Sarkisian contract: 3 things to know about new deal for Texas football coach
Steve Sarkisian contract: 3 things to know about new deal for Texas football coach A long-agreed contract extension between Texas and football coach Steve Sarkisian became formalized Thursday, when the UT System Board of Regents gave its approval. The new deal raised Sarkisian's salary by 3.85%. Under its terms, Sarkisian will earn $10.8 million in guaranteed compensation in 2025. His pay will escalate annually by $250,000, setting him up to earn $12.3 million in 2031, the final year of the deal. Texas last month completed a 13-3 season that included another appearance in the College Football Playoff, falling one win short of the national title game. Where does Sarkisian's contract extension place him among his peers? And what does it mean for the Longhorns going forward? Here are three things to know: Steve Sarkisian's old contract gave Texas football value for money. Will his next one do the same? In 2024, Sarkisian earned $10.6 million in base pay, with $10.3 million of that coming from his salary and another $300,000 derived from a retention bonus Sarkisian received in April. CED'S TAKE: Texas football canceled spring game, but can't forget one important group: fans | Golden An eye-popping total, no doubt. But you can make the case that it gave the Longhorns good value for their money. Just two other coaches in the 16-team SEC earned less money per win (excluding bonuses) than Sarkisian. Texas paid Sarkisian roughly $815,000 for each of his 13 wins. South Carolina's Shane Beamer and Vanderbilt's Clark Lea were Sarkisian's only SEC peers who offered better value. At the other end of the spectrum, Kentucky paid Mark Stoops $2.25 million per victory, while Mississippi State coach Jeff Lebby earned $2.13 million for each of his wins. Texas' rival, Oklahoma, paid Will Venables $1.40 million for each of his six wins. Apply Sarkisian's raise — which brings his guaranteed compensation to $10.8 million next year — to last season's win total, and the Longhorns would have paid out just over $830,000 per victory. Where Steve Sarkisian's new salary would have ranked last season Sarkisian's new deal doesn't raise his standing among the highest-paid coaches in the game. Sarkisian ranked third in the country last season in base pay, according to USA TODAY's national database, with Georgia's Kirby Smart and Clemson's Dabo Swinney coming in above him. TRANSFERS: These transfer departures could hurt Texas football in 2025 The Texas coach's new deal doesn't lift him above what Swinney or Smart earned in 2024. And Ohio State coach Ryan Day signed a new deal after the Buckeyes won the national championship last season that is set to pay him $12.5 million in 2025, which puts his deal above Sarkisian's on the list of the sport's most lucrative. Steve Sarkisian's new Texas football contract doesn't change his bonus structure According to the Agenda Book posted by the UT System Board of Regents, Sarkisian's new contract does not alter his "nonguaranteed compensation." Sarkisian's performance bonuses are included under that umbrella. Last season, Sarkisian earned $750,000 in bonus money for the Longhorns' inclusion and two victories in the College Football Playoff. Texas also paid him an additional $150,000 for taking the Longhorns to the SEC title game. Reach Texas Insider David Eckert via email at deckert@ Follow the American-Statesman on Facebook and X for more. Your subscription makes work like this possible. Get access to all of our best content with this tremendous offer.
Yahoo
20-02-2025
- Business
- Yahoo
Interim president for UT Austin named at UT System regents' meeting
Feb. 19—AUSTIN — Following the recommendation of Chairman Kevin P. Eltife and the UT System Board of Regents Feb. 19, Chancellor James B. Milliken named James E. Davis as interim president of The University of Texas at Austin, effective immediately. Davis currently serves as the university's senior vice president and chief operating officer. Prior to that, he was UT's vice president for legal affairs and business strategies. A graduate of UT Austin and Harvard Law School, Davis has been pivotal in successfully navigating some of UT Austin's most innovate and complex activities to advance its mission. In each of his leadership roles, Davis has driven positive outcomes for UT. Some examples include the development of UT's Innovation Tower, the university's first seed investment fund for startup companies to support researchers' discoveries, solutions for faculty and student housing, development of the Moody Center, and UT's move into the SEC Athletic Conference, among others. "Jim Davis has consistently executed very effective and high-impact strategies to propel UT Austin's rise. His depth of knowledge in optimizing how the university operates to best serve its students is critical at this time in higher education, and we appreciate his willingness to serve in this role," Eltife said in a news release. With the appointment of Davis, Eltife emphasized the need for UT Austin to take this time to address large-scale issues like infrastructure and deferred maintenance demands and the enhancement of operational and financial efficiencies to hone UT's strength for the future and maximize investments that can be directed to faculty and students. "Among his many strengths, Davis is uniquely qualified to lead these efforts. He is the right person at the right time," Eltife said. "There's no question Jim Davis is the right leader to serve as interim president. He knows the campus and the state well, and he's already leading the institution's efforts to address some of the most critical opportunities and challenges," said Milliken. He's a solid, tested, smart leader and he's completely devoted to the success of the university. "My colleagues and I have been working closely with him on big issues for years, and we look forward to making significant progress during his interim presidency," he added. Davis responded to the appointment. "I am grateful for the leadership and support of Chairman Eltife, the Board of Regents and Chancellor Milliken, and I am honored by this opportunity to further serve our university," said Davis.
