June 18, 2024 Trending New York News

Largest Buyout Ever: Texas A&M Allocates $75 Million To Bid Farewell To Jimbo Fisher

The decision by Texas A&M to fire head coach Jimbo Fisher is rocking waves in the college football world. However, what makes this decision really unprecedented is the whopping sum of $75 million awarded as a buyout—a figure which smashes all the previous records on such a payment to a football head coach.

While expressing gratitude for Coach Fisher’s time at Texas A&M, Bjork disclosed that the $75 million buyout would be covered by donor dollars from the school’s 12th Man Foundation and athletic department funds. The financial implications of this move are unprecedented, setting a new bar for coaching buyouts in the world of college sports.

Athletic Director Ross Bjork, the architect behind this monumental decision, emphasized the necessity of a change in leadership for Aggie football to realize its full potential. In a statement, he revealed that following a meticulous examination of all aspects pertaining to Texas A&M football, he advised President Welsh and subsequently Chancellor Sharp that a shift in the program’s leadership was imperative for Aggie football to realize its full potential. They endorsed his recommendation.

Jimbo Fisher

For the remainder of the season, A&M Assistant Coach Elijah Robinson steps into the role of interim head coach, overseeing the team’s final two games against Abilene Christian University and Louisiana State University.

President Welsh, shedding light on the rationale behind the decision, stated, “The decision to part ways with Coach Fisher is the result of a thorough evaluation of the football program’s performance, and what’s in the best interest of the overall program and Texas A&M University.” 

He expressed confidence in Athletic Director Ross Bjork’s ability to conduct a national search for Fisher’s replacement, emphasizing the importance of finding a coach aligned with the values that drive Texas A&M.

The initial shock of Fisher’s hiring in 2017 was marked by a 10-year, $75 million contract—a deal that was both unprecedented in duration and guaranteed annual pay. University administrators were willing to invest heavily in Fisher, who had previously won a national championship in Florida, with the goal of bringing similar success to Texas A&M. At present, Jimbo Fisher’s net worth stands at $94.95m. 

However, during his tenure at Texas A&M, Fisher has not reached the high expectation levels provided for in his fat contract. Jimbo Fisher recorded 45-25 all-time and had an excellent performance in 2020. However, this year with an average position of 6 wins and 4 losses, the team did not deliver what the university expected it to bring in terms of championship.

The amount of money expended in the contract is big compared to the other coaching contracts. Accordingly, Steve Sarkisian, the University of Texas at Austin, football coach is entitled to earn at least one-sixth of Jimbo Fisher’s amount totalling $34.2 million for six years.

Once the dust settles on that historic decision, college football fans will keep an eye on Texas A&M’s transition following the $75 million separation with coach fisher.

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