AUSTIN, Texas — Texas Athletic Director Chris Del Conte and numerous coaches in the Texas Athletics programs are set to receive pay raises pending the approval from the University of Texas Board of Regents, who are scheduled to meet Wednesday and Thursday.
Del Conte is set to make $2 million starting in 2020 and his contract will be extended three years through 2027, according to the board meeting agenda. The entirety of Del Conte's new deal gives him more than $18 million in guaranteed money. He is currently under contract through 2024, with his salary ranging from $1.5 million to $1.7 million throughout that period of time.
Each fiscal year of Del Conte's previous contract would receive a $500,000 pay raise.
- 2020: $2,080,000 (prorated)
- 2021: $2,120,000
- 2022: $2,170,000
- 2023: $2,220,000
- 2024: $2,270,000
- 2025: $2,320,000
- 2026: $2,385,000
- 2027: $2,455,000
Del Conte's salary adjustment amounts to a 86.08% raise and all of it is guaranteed.
Additionally, the contract extension includes an amendment removing a provision contained in the original agreement regarding a one-time $400,000 special payment for remaining in his role through August 31, 2024. Del Conte will also be eligible to receive a non-guaranteed annual performance incentive payment of $250,000 in 2025, 2026 and 2027. His non-guaranteed payment for 2020-2024 will remain the same as his previous contract.
If Del Conte chooses to leave UT, he will owe “an amount equal to the remaining present value of the unexpired term of the agreement” within 30 days, calculated with a 4% discount rate.
“One of the things I do with all my people is look at where the market is and make sure that our best people are where the market is for those positions,” Fenves told the Austin American-Statesman. “We got a great deal with Chris when I hired him two years ago, and I want to make sure that we’re still providing competitive compensation to the marketplace as a whole.”
Elliott's salary will increase from $327,500 to $470,000, starting in 2019-2020 and will be under contract for three years until 2021-2022.
Assistant football coach Craig Naivar will receive a pay raise from $490,000 to $497,500.
Head soccer coach Angela Kelly's salary is set to be raised from $205,135 to $212,635.
Head softball coach Michael White rounds out the slew of pay raises in the Texas Athletics coaching system. White is set to increase $7,500 per year of his contract.
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