How to Spend $100M on Mediocrity – The Story of Jimbo Fisher at Texas A&M

The latest case study in sports management classes should focus on Texas A&M and how NOT to spend money on FBS head football coaches. The Aggies are now in a huge financial hole all for the luxury of going 45-25 over the last six seasons. Jimbo Fisher, now the ex-Texas A&M head coach, was fired on Sunday after an underwhelming 19-15 record over the last three seasons. And now, the Aggies checkbook really gets to take a hit.

The Suite Life of Jimbo Fisher

Ahhh, Jimbo. After packing up his gear and moving out of his office at College Station, Fisher now will get paid roughly $77 million not to work. Yep. His contract, which was renewed through 2031 for upwards of $95 million, is owed to him in full as a result of his firing. Yes, his entire contract was guaranteed. 

Fisher will collect $77.56 million over the next few years to NOT coach. Remember Jameis Winston? Fisher coached him at Florida State. Winston, who now plays for the New Orleans Saints, has earned $71.9 million during his entire NFL career. That’s not as much as his former coach will earn while cracking open some Dom Perignon on his luxury yacht. 

The Details of Fisher’s Buyout

FBS coaches’ contracts are very interesting. Fisher’s was one for the record books. Initially, Texas A&M signed Fisher to a 10-year, $75 million deal. After going 26-10 in his first three seasons, the university decided to double down and upped his deal to $95 million. And it was all guaranteed!

As stipulated in the contract, all of the remaining money on Fisher’s contract is due to him. The university must pay 25 percent – $19.4 million – within 60 days of the firing. By Jan. 11, Fisher will add that $19.4 million to his bank account. Oh, and then, as per the agreement, the remainder of the contract shall be paid out in equal annual installments through the end of the contract (which is 2031). The first annual payment is due within 120 days of the termination of the contract. That means ‘ole Jimbo gets another $7.27 million before the end of April!

Then, from now until 2031, it’s Bobby Bonilla Day on steroids. Bonilla, of course, receives $1.15 million every July 1 as part of his buyout from the Mets back in 1999. For the next eight years, Fisher gets a big fat check for $7.27 million. And…somehow there was no offset language in his contract. That means he could be hired by another university, collect a paycheck from them, and still receive all of his $77 million from Texas A&M. 

But Wait…There’s More!

What most fans don’t realize is that not only will Texas A&M pay Fisher’s buyout, but they will also pay the buyouts of all of his assistants should they no longer be employed by the university. While not $77 million, it will add up to as much as $5 million. 

Then, there is the hiring of a new head coach. There have been some names floating around – Dan Lanning, Mike Elko, Lance Leipold, and more – but whoever it is will command a high price. After all, it is SEC football and the Aggies apparently have some serious oil money involved. Nick Saban and Kirby Smart average over $10 million per season. Fisher was fourth on the list of highest-paid SEC head coaches. That means it’s going to cost A&M at least $7 million per season. 

The new coach is going to want some security too. That will come in the form of a contract that covers at least five years, if not more. At $7 million for five years, A&M will be on the hook for another $35 million (at least). Oh, and don’t forget the new head coach’s buyout. The new head coach will look at Fisher’s buyout as a starting point and negotiate from there. 

Prior to Jimbo, the largest FBS buyout was Gus Malzahn at Auburn ($21 million). There’s no way Texas A&M will go for what they did with Fisher, but you can bet the next guy’s buyout will be at least another $20 million. And, don’t forget the NIL money that the Aggies are going to need to keep their stars in College Station and recruit future classes. 

When it’s all said and done, Texas A&M will have spent well over $100 million to make Jimbo Fisher go away. College football programs would be wise to use the Aggies as an example of what NOT to do when hiring new coaches. 

Click here to see the odds on who the next Texas A&M head coach will be