JUST A MINUTES AGO: Steve Sarkisian’s Texas Receives $332M News Despite Nearly Doubling Head Coach’s Salary The University of Texas has reported a record-breaking $332 million in athletic revenue for the 2024 fiscal year, becoming the first Division I public school to surpass $300 million in both revenue and expenses. This milestone comes as head football coach Steve Sarkisian secures a lucrative contract extension, nearly doubling his salary. Sarkisian, who led the Longhorns to back-to-back College Football Playoff appearances, signed a seven-year deal worth $10.6 million annually. The university’s soaring financial success reflects its football program’s resurgence, strategic investments, and increasing national prominence as Texas prepares for its transition to the Southeastern Conference (SEC) and …..
The University of Texas has achieved a historic milestone by reporting a record-breaking $331.9 million in athletic revenue for the 2024 fiscal year, becoming the first Division I public school to surpass $300 million in both revenue and expenses. This remarkable financial success coincides with head football coach Steve Sarkisian securing a lucrative contract extension, reflecting the university’s commitment to maintaining its competitive edge as it transitions to the Southeastern Conference (SEC).
Unprecedented Financial Milestone
In the 2024 fiscal year, the Texas Longhorns’ athletic department reported $331.9 million in operating revenue and $325 million in operating expenses, resulting in a surplus of approximately $6.9 million. This achievement marks the first time since the NCAA began its current reporting system in 2005 that a Division I school has reported over $300 million in both revenues and expenses in the same year. The Longhorns’ financial prowess underscores the university’s robust athletic programs and strategic investments in sports infrastructure and talent.
Steve Sarkisian’s Contract Extension
Amid this financial success, head football coach Steve Sarkisian has agreed to a contract extension that includes a salary increase. The new deal extends his contract by one year through the 2031 season and raises his salary from $10.4 million to $10.8 million in 2025, with annual increases reaching $12.3 million by the final year. This extension comes after Sarkisian led the Longhorns to consecutive College Football Playoff (CFP) semifinal appearances, solidifying Texas as a national contender.
Football Program’s Resurgence
Under Sarkisian’s leadership, the Longhorns have experienced a resurgence in performance. The team achieved a 13-3 record in the 2024 season, finishing as runners-up in the SEC and securing a spot in the CFP semifinals for the second consecutive year. This success has not only elevated the program’s national prominence but also contributed significantly to the university’s financial achievements through increased ticket sales, merchandise revenue, and media rights deals.
Strategic Investments and Future Plans
The university’s financial strategy includes addressing rising costs associated with athletic programs. Athletic Director Chris Del Conte has projected a $30 million increase in costs, attributed to adding 200 scholarships and implementing revenue-sharing initiatives with athletes. To offset these expenses, the university plans to increase football season ticket prices and explore additional revenue streams. Del Conte has also announced future initiatives, such as relocating the press box, adding new luxury suites, and considering a new grass field for the stadium. These enhancements aim to improve the fan experience and maintain the university’s competitive edge.
Transition to the SEC
As Texas prepares to transition to the SEC, the university is positioning itself to compete at the highest level of collegiate athletics. The increased revenue and strategic investments reflect a commitment to excellence and a readiness to face the challenges of a more competitive conference. The move is expected to enhance the university’s recruiting efforts, expand its national reach, and provide new opportunities for growth and success.
Conclusion
The University of Texas’s record-breaking athletic revenue and Coach Steve Sarkisian’s contract extension are testaments to the university’s dedication to athletic excellence. The alignment of financial success with on-field performance highlights a
