Texas A&M fired coach Jimbo Fisher after six years of a ten-year contract, leading to a record $75 million buyout. Despite his $9.15 million annual salary, administrators deemed it "necessary."
University To Pay Football Coach $75 Million To Stop Coaching
Getting paid well for your job is nice, but what does it mean when your employer pays millions just to stop you from working?
It might not feel as good, even if you're still getting paid.
Jimbo Fisher, the coach of Texas A&M, was fired by the university on Sunday, November 12, leaving him in the position six years into a ten-year contract.
After receiving an extension until 2031 in September 2021, Fisher left Florida State University to take the position.
School administrators were so sure of Fisher's abilities that they displayed a national championship trophy bearing the inscription "20--," implying that the coach would be the one to guide them to success.
Nonetheless, Fisher's firing was deemed "necessary" by administrators, according to a statement made this past weekend by Texas A&M athletic director Ross Bjork.
"After very careful analysis of all the components related to Texas A&M football, I recommended to President (Mark) Welsh and then Chancellor (John) Sharp that a change in the leadership of the program was necessary in order for Aggie football to reach our full potential and they accepted my decision," Bjork said.
"We appreciate Coach Fisher’s time here at Texas A&M and we wish him the best in his future endeavors."
The A&M team never won more than nine games in a season when Fisher was coach.
Fisher's annual pay increased to $9.15 million after receiving a raise earlier this year, so firing him won't come cheap.
According to Bleacher Report, the institution had promised Fisher about $100 million over ten years.
Because of his contract, Fisher will now be the beneficiary of what is reportedly the biggest buyout in college sports history.
According to the conditions of his contract, Fisher is entitled to the full amount of the over $75 million that is still owed to him.
With two games remaining in the season, the Aggies are 6-4 under Fisher's new leadership.
They did, however, triumph in their final game under the coach on Saturday, defeating Mississippi State 51–10.
Following the game, Fisher discussed the season, saying: "It’s not frustrating, but it’s disappointing at times.”
"Like I’ve said, we’re three or four plays from playing in a playoff spot. But we’ve got to put that past us and grow from it and learn from it for next year."
Moving forward, the Aggies will face LSU and Abilene Christian in the regular season.
As Jimbo Fisher considers his next move and the Aggies gear up for their remaining games, the world of college football is sure to be abuzz with discussions and analyses.