Texas gives Herman a 5-year contract with at least $25 million guaranteed

AUSTIN — Texas’ board of regents on Saturday approved a five-year contract for Tom Herman that will pay the Longhorns’ new football coach $28.75 million in basic compensation, with a minimum of $25 million guaranteed.

According to a term sheet released by the university, Herman is scheduled to receive $5.25 million in his first year, with annual raises of $250,000 that will give him a salary of $6.25 million in 2021. But if he is fired without cause at any point, the school would owe him $5 million per year remaining on his deal.

Nostate funds are used to pay for any salary in the UT athletic department, which is self-sufficient.

Herman, 41, will collect an extra $1 million payment if he is still the coach Dec. 25, 2019. Other potential bonuses include $100,000 for winning a Big 12 championship and $250,000 for winning a national title.

His contract, approved unanimously by the board of regents, is believed to be the first to call for a UT coach to owe the school a lump-sum buyout if he leaves for another job. In that case, Herman would owe Texas $3 million per year remaining on his contract, plus the salaries of any remaining assistants.

Hermanreplaces Charlie Strong, whose five-year, $26 million contract was guaranteed when he signed it.

Herman, who led Houston to a 22-4 record in two years, also owes a $2.5 million payment to UHfor leaving that job. UT president Greg Fenves confirmed UT is in discussions with UH about paying that buyout.