AUSTIN, Texas (AP) — University of Texas regents on Monday approved a five-year contract for new football coach Charlie Strong worth more than $25 million.
Strong will be paid $5 million in the first year, with an annual $100,000 raise for the coach chosen to succeed Mack Brown. The regents met by phone Monday and approved the contract by a unanimous vote.
Strong, 53, spent the last four years at Louisville and will be the first African-American head coach of a Longhorns men's team. He went 23-3 the last two seasons at Louisville, and was introduced as Texas' new coach Jan. 6.
"We have the right coach on the right terms," Texas President Bill Powers said after the board vote. "I am so excited about coach Strong being here."
Brown spent 16 seasons at Texas and won the 2005 national championship. He resigned in December after four consecutive seasons with at least four losses.
Strong's deal includes Texas paying a $4.38 million buyout from his previous contract with Louisville. Strong's salary and the buyout with Louisville will be paid entirely with money raised by the athletic department, school officials said. No state taxpayer money is used.
Texas has the wealthiest athletic department in the country, with an annual budget of more than $160 million.