Texas A&M's Board of Regents approved Jimbo Fisher's 10-year $75 million contract a few minutes before Fisher was introduced as the new head football coach on Monday. While the number is the largest ever given to a college football coach, A&M's administration had no qualms about giving Fisher the deal.
The funds for the contract were all obtained privately, either through athletic department donations or revenue. No state funds were used for Fisher's contract, meaning no student tuition or tax payer money will be going into it.
"The athletic department at Texas A&M University is one of the very small number of departments that are self-sustaining," Board of Regents Chairman Charles Schwartz said.
A&M is backing up its big investment, too.
"We tried to get 15 years, but he wouldn't agree to it, so we settled for 10," Chancellor John Sharp told KAGS, with a smile. "He was the target always. We don't do plan B at Texas A&M. It's the best, or forget about it."