BREAKING: College football coaching contracts set $76 million landing 46-years old legend.
In recent years, college football coaching contracts have reached record highs, resulting in enormous buyouts. For instance, Texas A&M owed Jimbo Fisher $76 million after his firing last season, a sum that shattered the previous record and caused the Aggies to reconsider their negotiating strategy before hiring Mike Elko.
Generally, coaching contracts are fully guaranteed unless the termination is for cause. Successful seasons often lead to updated contracts and new deals as schools try to keep winning coaches from leaving for other opportunities. The wave of changes following Nick Saban’s retirement resulted in significant contract enhancements for coaches like Mike Norvell, Dan Lanning, and Steve Sarkisian.
Several coaches remain secure in their positions primarily due to the financial terms of their contracts. If any of these coaches were to be fired, substantial support from boosters or private funding would be necessary to cover the costs.
Some of this buyout information was sourced from USA Today’s salary database, while other figures were derived from revised contract terms and new deals signed this spring. All amounts are estimates.
Estimated buyout ahead of the 2024 season: $92.6 million
Kirby Smart is the highest-paid coach in college football, a status he has earned through his outstanding performance. His new contract, extending through December 2033, includes an annual salary increase of $1.75 million, bringing his total yearly earnings to $13 million, with potential bonuses of up to $1.55 million. Reflecting on his career this spring, Smart expressed disbelief at making $13 million as Georgia’s head coach, attributing his success to the mentors who shaped his career.
“Look at the coaches over the years that paved the way — Bobby Bowden, Mickey Andrews, Joe Kines — all the guys that helped shape my career and how hard they worked and what they did,” Smart said, via Dawgs247. “I never would’ve thought it would’ve happened.”
Estimated buyout ahead of the 2024 season: $88 million
USC paid $4.5 million to Oklahoma for Lincoln Riley’s buyout and subsequently offered him one of the largest contracts in college coaching two years ago to lure him to Los Angeles. Riley came close to securing a College Football Playoff spot in his first season with the Trojans but fell short of expectations in 2023. According to the Los Angeles Times, USC paid Riley $19.7 million in total compensation from July 1, 2022, to June 30, 2023, marking the highest annual earnings ever for a college football coach. As USC is a private institution, exact figures for Riley’s buyout are not publicly available and are estimated.
Estimated buyout ahead of the 2024 season: $77.7 million
Kalen DeBoer has several contract bonus opportunities, negotiated by Jimmy Sexton, who represents many of college football’s prominent coaches. DeBoer receives additional compensation for reaching the SEC Championship Game, winning the conference, making a College Football Playoff appearance, and other achievements. If DeBoer is fired “without cause,” he is entitled to 90% of his remaining contract paid in monthly installments through the end of the contract term.
Estimated buyout ahead of the 2024 season: $75.6 million
Mike Norvell signed an eight-year contract extension with the Seminoles in January, extending through 2031, after being considered for Alabama’s coaching vacancy. Following a conference title-winning season and a near playoff appearance, Norvell has become one of the highest-paid coaches in the nation. According to Noles247, his contract was amended in the 2022 offseason, extending it to a seven-year deal with an average annual salary of $7.8 million, set to expire on December 31, 2029. With the new extension, Norvell now earns over $10 million annually throughout the duration of his new contract.
Estimated buyout ahead of the 2024 season: $70 million
It took a decade-long contract worth nearly $100 million for LSU to entice Brian Kelly away from Notre Dame. This substantial investment is proving worthwhile, as LSU reached the SEC Championship Game in Kelly’s first season and boasted a 2023 Heisman winner. According to the terms of his contract, Kelly is owed 90% of the remaining amount if he is fired at any point. Additionally, if Kelly secures a national championship during his tenure, following in the footsteps of LSU’s three previous head coaches, the university will owe him 100% of the remaining contract.
Estimated buyout ahead of the 2024 season: $64.5 million
James Franklin signed a revised 10-year contract with the Nittany Lions a few years ago, positioning him among the highest-paid coaches in the Big Ten. The deal, according to a university statement, extends through the 2031 season and guarantees a base salary of $7 million per year, along with an annual $500,000 retention bonus and up to $1 million in incentives each year. Penn State, with several top 10 finishes in recent seasons, aims to capitalize on the expanded playoff era.
Estimated buyout ahead of the 2024 season: $64 million
Dabo Swinney, renowned for his success at Clemson, faced an unusual three-season absence from the College Football Playoff. Swinney, who secured two national titles with Clemson, inked a new contract a couple of years ago, fetching him $11.5 million annually. His previous deal, signed in 2019, was valued at $93 million and extended for 10 years through 2029. In 2022, Swinney achieved a significant milestone, becoming the sixth-fastest coach in FBS history — and the fourth-fastest in the modern era — to attain 150 career wins, trailing behind Urban Meyer (176), Gil Dobie (180), Barry Switzer (180), Fielding Yost (184), and Joe Paterno (184), as reported by Clemson247.
Estimated buyout ahead of the 2024 season: $60 million
Mario Cristobal earned a staggering $22.7 million in 2022, marking the largest-ever compensation for a private athletics employee, based on raw data. This sum comprised $7.7 million in base pay and $14.9 million categorized as “other reportable compensation,” as reported by USA Today Sports. Miami’s athletic director, Dan Radakovich, clarified that the $14.9 million encompassed the $9 million buyout owed to Oregon. The remainder of the non-base payment accounts for gross-up pay. Despite Cristobal’s 12-13 record with the Hurricanes heading into the 2024 season, he leads his most talented roster yet.
Estimated buyout ahead of the 2024 season: $59 million
Matt Rhule is entering his second season of an eight-year, $74 million contract with the Huskers, with 90% of his contract guaranteed in the event of termination without cause.
“I believed he was the perfect person based on his experience and based on where we find ourselves today as a program to help us rebuild and build the foundation needed,” Nebraska athletic director Trev Alberts remarked after hiring Rhule in November 2022. “So there was a period where it looked like it wasn’t going to happen, we decided to keep working and keep trying, and in the end there was a deal.”
Estimated buyout ahead of the 2024 season: $54.3 million
Steve Sarkisian capitalized on his successful 2023 season as a conference champion and first-time playoff participant by securing a lucrative contract extension. Previously outside the top 25 in terms of salary, Sarkisian’s earnings doubled this spring, and his buyout now exceeds $50 million. Under Sarkisian’s leadership, Texas improved from a 5-7 record in his first year to 8-5 in Year 2, followed by a remarkable 12-win season. As the Longhorns prepare to enter the SEC in 2024, they are viewed as one of the top contenders for a national title.