New Texas Tech coach Matt Wells gets $18.8M, 6-year contract
LUBBOCK, Texas (AP) — New Texas Tech coach Matt Wells has a six-year, $18.8 million contract, with Utah State getting an $800,000 buyout.
The school released details of the contract Thursday. Wells, who replaced Kliff Kingsbury after the former Texas Tech quarterback was fired, could earn incentives of up to $1 million and will owe 20 percent of the deal’s remaining value if he leaves for another job.
Texas Tech’s buyout is 70 percent of the remaining value but could be reduced by Wells’ future earnings elsewhere.
Wells’ assistants will earn $600,000 each on three-year contracts, with incentives for reaching the Big 12 championship game, the College Football Playoff or other bowl games.