Franchione's buyout could be altered depending on coach's pay at future jobs
COLLEGE STATION, Texas -- Texas A&M regents approved a contract buyout Friday for former football coach Dennis Franchione worth up to $4.4 million over three years.
Athletic department spokesman Alan Cannon said Franchione, who resigned Nov. 23, would be paid up to $1.7 million for each of the next two years. He would receive another $1 million in the third and final year of the agreement with the Texas A&M System Board of Regents.
Franchione's pay during the first two years would depend on how much he makes at any other job. Any pay he earns in another job would be deducted from the $1.7 million total, Cannon said.
Before he resigned, Franchione's contract had five years remaining at $2 million per year.
"I believe the agreement is fair and I would like to once again thank Coach Franchione for his work and efforts here at Texas A&M," athletic director Bill Byrne said in a statement. "We wish him and his family well in their future endeavors."
A reputed rebuilder of programs, Franchione finished a mediocre 32-28 at A&M, far short of the expectations when he replaced R.C. Slocum in December 2002. Off the field, Franchione was caught this season selling inside information about the program to big-money boosters in a secret newsletter.
He resigned about an hour after his Aggies beat the 13th-ranked Longhorns 38-30 at Kyle Field.
Mike Sherman, an assistant head coach with the NFL's Houston Texans, was named head coach three days later.
Interim head coach Gary Darnell will lead the Aggies (7-5) against Penn State (8-4) on Dec. 29 in the Alamo Bowl in San Antonio.
Copyright 2007 by The Associated Press
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