Being a coach is hard And thankless work. It’s a profession where everyone thinks they can do your job better than you, which often leads to high turnover, especially when you’re the head coach of a Power Five college football team. But getting fired isn’t so bad when you have a million dollar parachute.
Just a few weeks later Texas A&M has proven that schools have enough money to pay student-athletes – after recently fired head coach Jimbo Fisher is set to receive more than $76 million due to his buyout, on top of the 10-year, $75 million fully guaranteed deal he originally signed in 2017 – the university owes a minimum of $119 million to head football coaches before 2031 between Fisher ($77 million) and new head coach Mike Elko ($42 million), according to a report from Sports at reception.
“Let me be very clear in this next part: Texas A&M Athletics and the 12th Man Foundation will be the sole sources of the funds needed to cover these transition costs.” said Texas A&M athletic director Ross Bjork about tabs.
It’s not just a “Texas thing” either. Across the country, fired coaches are walking away with huge salaries. Check this out from the rest of the report:
- Jimbo Fisher from Texas A&M: $76 million
- Indiana’s Tom Allen: $15.5 million
- Houston’s Dana Holgorsen: $14.8 million
- Mississippi State’s Zach Arnett: $4.5 million
- Syracuse’s Dino Babers: $4 million (estimate; private school)
- Andy Avalos from Boise State: $3 million
- Danny Gonzales of New Mexico: $400,000
Please note, this list does not even include $80 million Michigan State would have owed Mel Tucker if it couldn’t have fired him for causebecause it was a way for the school to not have to pay its buyout.
Don’t ever tell me that schools don’t know where the funds to pay student-athletes would come from. The money has always been there. They just don’t want to give it to the people who make the money: the players.
Coincidentally, these same outrageous spending habits are taking place in the NFL. Owner of the Las Vegas Raiders Mark Davis set to pay around $85 million after firing head coach Josh McDaniels, general manager Dave Ziegler and other members of his coaching staff. This is after previously giving former coach Jon Gruden a 10-year, $100 million contract. Last season, the NFL Informed Owners They Spent $800 Million on Coaches and Front Office Executives who haven’t even worked for them for five years. According to the report, at one point, the Panthers, Colts and Titans were paying a minimum of $69 million with 12 years left on their former employees’ contracts. The Giants were paying three different coaching staffs in 2022.
Major League Baseball may be where the money is for athletes. But football pays the best when it comes to getting fired.
