A&M gives Fisher college football’s richest contract
Jimbo Fisher, who was introduced to the COLLEGE STATION — Texas A&M faithful on Monday, received a huge honor that will make him the envy of every coach around. And it didn’t involve a trophy, but his bank account.
Before Fisher’s debut in front of about 300 people at A&M’s glitzy Hall of Champions inside Kyle Field, the school’s board of regents approved a guaranteed contract of $75 million — the most lucrative agreement in college football history.
A&M officials were quick to remind everyone that no state money or tuition funds will be used to pay the 52-year-old Fisher. The Aggies athletic department is self-supporting, paying its bills from TV and conference money, ticket revenue and fundraising.
A&M led the country the past two years in athletic revenue. Last year’s total was about $195 million, although $75 million of that was donations specifically raised to help pay for the recently renovated football stadium.
“The interesting thing about this program, to be very clear about it, we are one of only a small handful of schools in the entire United States where the athletic program actually is more than self-sufficient,” said A&M President Michael Young. “Not only self-sufficient, most other universities, a vast majority of universities ... actually subsidize athletics with other revenues. We do not do that here.
“Not only that, our athletic program contributes back to the athletic side, and that is extremely rare,” Young said. “But I’m very proud of that. I think it helps people understand that, yes, you spend money on athletic programs to be sure, but that money, even in the short range picture, produces a return on an investment.”
Because A&M paid $500 million to upgrade its stadium and athletics complex after it moved from the Big 12 to the SEC, school administrators believed paying Fisher will be a blue-chip investment if he brings championships to College Station. A&M last won a conference title in 1998. The Aggies’ lone national championship was in 1939.
Fisher won three ACC titles at Florida State, with a national championship in 2013. His one bad year was this season, when the Seminoles went 5-6.
Fisher’s contract is for 10 years, beating the agreement signed by Alabama’s Nick Saban that’s worth $65 million. Saban actually makes more money each year than Fisher: $8.1 million to $7.5 million. But Saban’s contract is only good for eight years, as opposed to 10.
Then again, everything’s negotiable in a college football culture where $5 million five years ago used to be the high bar. Now it’s the minimum to crack the top 10.
Fisher replaces Kevin Sumlin, who was fired Nov. 26, a day after the Aggies lost to LSU in the regular-season finale. Athletic Director Scott Woodward, who worked with Fisher when both were at LSU in the 2000s, said he immediately targeted Fisher as his first choice.
Changing coaches was costly, even before A&M approved Fisher’s contract.
A&M owes Sumlin $10.4 million within the next 60 days. Fisher’s contract with Florida State stipulated that if he changed jobs, he’d owe the school the cost of the salaries of any of the assistants and other top support staffers if they’re not retained by the new coach. Those salaries are collectively worth $5 million.
Sumlin’s assistants made a total of $4.8 million, which ranks fourth nationally. That total includes the $1.558 million salary of defensive coordinator John Chavis, the highest-paid assistant coach in the country. New coaches typically bring in a new staff. Woodward wouldn’t say how much of a salary pool Fisher will be allowed to spend but said the Aggies would “be competitive.”
Woodward wouldn’t specify how the Aggies would pay for the various buyouts to clear the way for Fisher. It’s conceivable the cost of changing coaches approaches more than $100 million.
Fisher’s enthusiasm for championships delighted those who were listening to his news conference.
“I want to take Texas A&M to somewhere they haven’t been,” Fisher said. “And that’s the champion of the SEC. That’s where we want to be and what we want to be and advance to the national championship and how we do it. If you can compete in this league, you can compete in any league in college football. We have all the ingredients.”
‘I want to take Texas A&M to somewhere they haven’t been. And that’s the champion of the SEC.’ Jimbo Fisher Texas A&M’s new coach