On Friday, Texas A&M University announced that it had terminated its contract with head football coach Jimbo Fisher, incurring a $75 million penalty in the process.
The university had signed Fisher to a 10-year, $75 million contract in 2017, with the intention of making him the highest-paid coach in college football. However, after three seasons, the Aggies have failed to reach the expectations of the university, and Fisher was let go.
This is a significant financial blow for Texas A&M, as the university will now have to pay the $75 million penalty for terminating the contract. This is a huge sum of money for any university, and it will no doubt have a major impact on the school’s budget.
The decision to terminate Fisher’s contract was not an easy one for the university. He had been successful at Florida State, leading the Seminoles to a national championship in 2013. He was also highly respected in the college football community, and many believed he could turn around the Aggies’ program.
However, Texas A&M’s record under Fisher was not up to par with the university’s expectations. The Aggies had a losing record in two of his three seasons, and they failed to make it to a bowl game in 2020.
The termination of Fisher’s contract is a major setback for Texas A&M, both financially and in terms of its football program. The university will now have to find a new head coach to lead the Aggies, and it will have to do so while dealing with the financial burden of the $75 million penalty.
It remains to be seen how Texas A&M will move forward from this situation, but one thing is certain: the university will have to make some tough decisions in order to get back on track.
