The Texas regents approve the extension of Steve Sarkisian’s contract, raising it to over $10 million.

Texas’s Austin The newest $10 million man in college football is Steve Sarkisian.

The Longhorns coach’s contract was extended and his guaranteed compensation increased to $10.3 million this year by the University of Texas System Board of Regents on Thursday. The deal also keeps the coach in place through 2030.

After Texas won the Big 12 last season and qualified for its first-ever College Football Playoff, Sarkisian now ranks among the top paid coaches in the nation thanks to the four-year contract extension.

As a result of the contract’s $100,000 yearly raises, Sarkisian’s guaranteed pay will reach $10.9 million by 2030. In addition, he receives a one-time $300,000 incentive and 20 hours of annual personal usage of the school’s own aircraft.

In addition, Sarkisian is qualified to receive bonuses totaling over $1.5 million should the Longhorns win a national championship.

According to his initial deal, he would receive $5.8 million in 2024. The increases represent a 78% rise in Sarkisian’s guaranteed pay overall, under the regents’ plan.

It was anticipated that the contract would be approved. The board disclosed the financial specifics of the extension in their meeting agenda last week, and it was first reported in January.

Texas lost 37-31 to Washington in a national playoff that went down to the very last play, but they still ended 12-2 and were ranked third the previous season. In their last year in the league, the Longhorns emerged victorious in the Big 12. Next season, Texas will play in the Southeastern Conference.