When Texas A&M inked an extension to Jimbo Fisher’s contract just prior to the kick-off of the 2021 season, the program’s landscape was optimistic. The previous season was the best yet under Fisher’s leadership, with a 9-1 record and a top-five finish in the rankings. This was only the second time they achieved such a result since joining the SEC in 2012. In fact, the team was experiencing a surge in recruiting, and the summer class that Fisher and his staff were assembling was on track to become the highest-rated in the recruiting rankings era.
Back in 2017, Fisher signed a 10-year, $75 million deal when he was lured away from Florida State. In September 2021, Texas A&M doubled down by extending his contract through 2031 for nearly $95 million with full guarantees. Athletic director Ross Bjork stated at the time, “Coach Fisher continues to demonstrate he is building our program for long-term success and he is a perfect fit for Texas A&M. There is momentum in all phases of our program and we are excited about what lies ahead for Aggie Football.” Fisher, in his own statement, expressed his honor to be the Head Football Coach at Texas A&M and his determination to keep making progress.
However, now, over two years later, Fisher is out. Texas A&M decided to fire Fisher on Sunday after he led the team to a 45-25 record over six seasons. Since reaching its peak in 2020 and the contract extension, Texas A&M has had a less-than-stellar performance, with a 19-15 overall record, struggles in SEC competition, and several close game losses.
The university does not need to give Fisher the entire $77 million buyout immediately, but will need to pay him in installments over the years. Specifically, a lump sum must be paid within the first 60 days, and the remainder will be paid in annual installments starting within 120 days of the termination, continuing through the original end date of the Agreement in 2031. The total buyout of $77,562,500 must be paid partially within the next few years.
Fisher’s buyout stands as one of the largest paid to a fired coach in college football history. Texas A&M, and not the boosters, will be covering Fisher’s buyout. Both Texas A&M athletics and the 12th Man Foundation will be the sources of this funding.
As Texas A&M leadership moves forward from Fisher’s departure, the payment of the buyout will continue for the next eight years. Despite the financial challenge, the decision was made to let Fisher go.
