BRYAN-COLLEGE STATION, Texas — The Texas A&M University System’s Board of Regents on Thursday gave formal approval of contract terms for Mike Elko as the next head coach of the Texas A&M University football team.
The Regents, who had provided contract parameters prior to the search, authorized Interim President Mark Welsh on Thursday to finalize a six-year contract with $7 million in annual pay, plus up to $3.5 million in additional incentives for success in the playoffs.
“Regents are excited to welcome back Mike Elko as the new head coach,” Chairman Bill Mahomes said. “Like Aggie fans everywhere, we admire his accomplishments as our defensive coordinator, 2018-2021, and at Duke as the 2022 ACC coach of the year. He is world class. We are delighted to welcome Coach Elko and his family back to Aggieland.”
President Welsh echoed those remarks.
“Aggies everywhere have welcomed Coach Elko and his family back with open arms,” President Welsh said. “He has talent, experience, tremendous leadership skills and the trust and admiration of our student athletes. I can’t wait to see how he and the team excel both on and off the field.”
The terms, outlined in a memo of understanding between Elko and the university, include several post-season incentives:
- $1 million for making the College Football Playoff (CFP)
- $1.5 million for advancing to the CFP quarterfinals and/or winning the SEC Conference title
- $2 million for advancing to the CFP semi-finals
- $2.5 million for advancing to the CFP championship game
- $3.5 million for winning the national championship.
Other incentives include $100,000 for appearing in the SEC Championship game, $50,000 for being named SEC Coach of the Year, $100,000 for being named National Coach of the Year and $50,000 for achieving NCAA academic improvement in student eligibility and retention over multiple years.
The memo also provides for damages if the coach resigns early or the university terminates the contract without cause.
About The Texas A&M University System
The Texas A&M University System is one of the largest systems of higher education in the nation, with a budget of $7.8 billion. Through a statewide network of 11 universities, a comprehensive health science center, eight state agencies, and the RELLIS Campus, the Texas A&M System educates more than 153,000 students and makes more than 23 million additional educational contacts through service and outreach programs each year. System-wide, research and development expenditures exceed $1 billion and help drive the state’s economy.
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