Texas set to approve extension, raise for coach Steve Sarkisian

Colt McCoy tells McAfee why he's 'fired up' about the Longhorns (1:22)

Colt McCoy joins "The Pat McAfee Show" and expresses his excitement for what lies ahead for the Texas Longhorns. (1:22)

The University of Texas System board of regents is set to approve a contract extension for Longhorns football coach Steve Sarkisian that will nearly double his annual compensation to more than $10 million per season through 2030.

The board of regents will consider the extension and pay increase at a scheduled meeting on Feb. 21-22, according to a published agenda book for the meeting.

Under the terms of the proposed agreement, Sarkisian would earn $10.3 million in 2024 and receive a pay increase of $100,000 in each of the next six years, capped at $10.9 million in 2030.

The deal will put Sarkisian among the 10 highest-paid coaches in the FBS.

Texas officials had announced Jan. 13 that Sarkisian had agreed to a four-year extension but didn't release financial details.

"I said it when I came here three years ago, this is a dream job for me," Sarkisian said in a statement last month. "It's a destination job, and I'm fired up every day to be the head coach at The University of Texas. We're thrilled with what we've been able to accomplish and proud of the culture we've built and the way our players have grown - on and off the field. But we're just getting started. I've said it all along, we've been building this program for long term success."

Sarkisian just completed the third year of a six-year contract and was previously set to make $5.8 million in 2024, $6 million in 2025 and $6.2 million in 2026.

Last season, Sarkisian guided the Longhorns to a Big 12 championship in their final season in the league and their first appearance in the College Football Playoff. Texas lost to Washington 37-31 in a CFP semifinal at the Allstate Sugar Bowl.

The Longhorns finished 12-2 and were ranked No. 3 in the final AP poll, their highest finish in 15 years.

Sarkisian was named Big 12 Coach of the Year and was a finalist for the Bear Bryant, George Munger and Eddie Robinson Coach of the Year awards. He has a 25-14 record in three seasons at UT.

The Longhorns locked up Sarkisian, 49, as they prepare to play their first season in the SEC. The former Alabama offensive coordinator was linked to the Crimson Tide's head-coaching vacancy after longtime coach Nick Saban announced his retirement. The Tide hired Washington's Kalen DeBoer.

Under the terms of his new contract, Sarkisian can earn an additional maximum of $1.85 million annually in performance bonuses, including $300,000 for winning the SEC championship game and $250,000 for making the CFP, $500,000 for reaching a CFP quarterfinal, $750,000 for reaching the CFP semifinals, and $1 million for reaching for the CFP National Championship game or $1.25 million for winning a national championship (he would only receive the highest achieved CFP bonus).

Sarkisian would also receive as much as $300,000 in bonuses for winning national coach of the year and SEC Coach of the Year awards. He will also receive a special one-time payment of $300,000 before April 1.

Texas will also extend the contracts of tight ends coach Jeff Banks, offensive coordinator Kyle Flood and defensive coordinator Pete Kwiatkowski, whose pay was increased to $1.8 million for the upcoming season, $1.9 million in 2025 and $2 million in 2026.