AUSTIN, Texas (CBSDFW.COM/AP) – Texas is giving athletic director Chris Del Conte a raise and three-year contract extension that will bring his guaranteed annual salary to $2.5 million by 2027.
Del Conte will receive an immediate raise from $1.54 million to $2.08 million in 2020, according to contract details posted in the agenda for the university’s Board of Regents meetings Wednesday and Thursday.
Texas hired Del Conte from TCU in December 2017.
His original contract was to expire in 2024. Del Conte has hired track and softball coaches and pushed creative new game-day experiences at football games. Texas now hosts “Bevo Blvd” with food and live music outside the football stadium on home game Saturdays.
The school also has already started a major renovation project on the football stadium and is moving ahead with plans for a new on-campus basketball arena.
His new contract includes more than $16 million in guaranteed compensation. It also has a buyout clause nearly equal to what would be left on the contract if Del Conte decides to leave.
(© Copyright 2019 CBS Broadcasting Inc. All Rights Reserved. The Associated Press contributed to this report.)