Texas A&M to spend more than $75 million to fire football coach Jimbo Fisher
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Texas A&M University is expected to fire head football coach Jimbo Fisher on Sunday, according to two sources familiar with discussions.
The university will owe Fisher more than $75 million to buy out his contract, a record amount of money owed to a football coach.
According to a source familiar with discussions, no public money will be used to pay out the massive contract. A&M keeps its athletics funds and institutional funds separate. When major college football programs buy out their football coaches, they often use donor money. The Texas A&M University System directed questions to the university athletics department, which did not immediately respond to a request for comment. A press conference announcing the decision is expected later Sunday.
The A&M System Board of Regents, which hires and fires athletic coaches, discussed firing the football coach during the executive session portion of their board meeting last week, sources confirm. TexAgs, an A&M fan site, first reported the decision.
University administrators stunned the college football world when they announced the 10-year, $75M contract in 2017 that lured Fisher away from Florida State University. The deal was staggering for both its duration and its guaranteed annual pay.
In 2021, the board extended the contract by four years after reports that Fisher might leave A&M for Louisiana State University. Under that extension, Fisher made $9 million annually.
In contrast, Steve Sarkisian, the head football coach at the University of Texas at Austin, is guaranteed to make at least $34.2 million throughout his six-year contract.
At the time, university leaders said Fisher, who won a national championship in Florida, was worth the money and the university wanted to win championships. But Fisher has been unable to deliver. While Fisher had a strong year in 2020, Fisher’s overall record is 45-25. Last year, the Aggies ended the season with a 5-7 record. The team is in the midst of another lackluster season, with a 6-4 record so far.
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