College Coach Gets Staggering Amount of Money After Being Fired Texas A&M football coach Jimbo Fisher had a buyout clause in his massive contract.

By Jonathan Small

Texas A&M sacked head football coach Jimbo Fisher last Sunday, but not before buying out his contract for a stunning $76 million. The decision is part of a shocking turn of events that's shaken the sports world.

"Although this is a major, major financial decision that comes with many consequences, we have a plan, and we will not let this impact the performance or the culture of our entire athletics program," said Texas A&M athletics director Ross Bjork.

Related: Colorado's Football Team Was Robbed at the Rose Bowl, and Coach Deion Sanders Wants Reimbursement

High hopes come crashing down

Fisher took over at Texas A&M in 2018, signing a 10-year contract through the 2031 season. He started his tenure successfully, leading the team to three bowl games, including an Orange Bowl win in 2020. But since then, the team's fortunes have fumbled, leaving management no choice but to let Coach Fisher go.

Big buyout

Luckily for Fisher, his contract included a substantial buyout clause, and now the university owes him a stunning sum. According to The Associated Press, Fisher is owed between $75 and $77 million, making it the largest known buyout ever given to a fired head coach. This hefty amount will be paid to Fisher regardless of whether he finds a new coaching job.

Bjork said $19 million (25% of his salary) is due within 60 days. The remaining balance will be paid in several installments, with the first installment of approximately $7 million due within 120 days.

To fund these payments, the university plans to use unrestricted contributions within the 12th Man Foundation (a Texas A&M scholarship program) for the first one-time payment. The remaining portion will be financed from growing revenues and adjusting the annual operating budget of the athletic department.

Forward progress

Bjork says the school has learned from Fisher's contract and that their decision will not impact the overall performance or culture of the athletics program.

"We were stuck... something was not working to reach our full potential," Bjork said. "We should be relevant on the national scene."

Texas A&M beat Mississippi State 51-10 on Saturday, but Fisher's dismissal was based on the overall record of the football program over the past several years. Fisher was 45-25 in six seasons at Texas A&M.

As the Texas A&M football moves forward, the university hopes the decision to fire Fisher will turn the program around. But the financial repercussions of his contract will be felt for years to come.

Jonathan Small

Entrepreneur Staff

Founder, Strike Fire Productions

Jonathan Small is a bestselling author, journalist, producer, and podcast host. For 25 years, he has worked as a sought-after storyteller for top media companies such as The New York Times, Hearst, Entrepreneur, and Condé Nast. He has held executive roles at Glamour, Fitness, and Entrepreneur and regularly contributes to The New York Times, TV Guide, Cosmo, Details, Maxim, and Good Housekeeping. He is the former “Jake” advice columnist for Glamour magazine and the “Guy Guru” at Cosmo.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Side Hustle

After a 12-Year-Old's Side Hustle Made Over $4,000 in 1 Day, He and His Dad Grew the Business to Nearly $50,000 a Month: 'It Takes Commitment'

Madden Forrest and his father, Steven, turned their passion for football into a lucrative business.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business News

Here Are the 10 Highest-Paying Jobs For New Graduates With a Bachelor's Degree — and They All Start at Six Figures

According to a new report from Resume Genius, finding a high-paying job as a new grad is possible, even in this market.

Business Solutions

Streamline Your Workflow With This $30 Microsoft Office Professional Plus 2019 License

Outfit your PC with seven helpful apps thanks to this Microsoft Office Professional Plus 2019 for Windows license.

Side Hustle

Use This AI-Powered Platform to Turn Your Side Hustle into a Scalable Business

Turn a side hustle into something sustainable with Sellful's ERP White Label plan.