Quarterback Johnny Manziel (R) of the Texas A&M University Aggies and head coach Kevin Sumlin (L) pose after being named the 78th Heisman Memorial Trophy Award winner at a press conference at the Marriott Marquis on December 8, 2012 in New York City. (Photo by Mike Stobe/Getty Images) (Mike Stobe / February 28, 2013)
Texas A&M rewardeds Kevin Sumlin with a new contract which will give the 48-year-old first-year coach a big raise.
According to the details of his new contract, which were acquired by an open records request by the Dallas Morning News, Sumlin’s new deal will pay him $3.1 million a year. His current contract was set to pay him $2 million per year.
The new deal also extends his current contract through 2017.
Texas A&M is coming off a record-setting season which saw the Aggies go 11-2 including a victory over Oklahoma in the Cotton Bowl. It was the school’s first season in the Southeastern Conference. Quarterback Johnny Manziel captured the Heisman Trophy in December, becoming the first Texas A&M player to win the coveted award since John David Crow in 1957.
Sumlin isn’t the only one benefitted from the new deal.
The school has also increased the amount of money Sumlin’s staff will receive from $2.7 million to $3.4 million.
According to the deal, Sumlin will make $500,000 annually, but will receive a an annual supplemental payment of $2,600,000 in 2013, which increases to $2,725,000 on April 1, 2015 before decreasing to $2,350,000 in 2017.
Sumlin’s buyout still remains at $2 million per year, but that number decreases $400,000 every year until the end of his contract.
Sumlin will receive various bonuses if his team achieves certain benchmarks including qualifying for the SEC Championship ($100,000), winning the SEC Championship ($150,000), qualifying for a bowl game ($50,000), qualifying for a non-BCS championship game ($250,000) and winning a national championship ($400,000).
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