Texas made the coaching hire of the offseason on Thursday. Chris Beard has returned home after five seasons at Texas Tech. To acquire his services, a $4 million buyout was paid and now, Beard’s contract details have been released.
According to Chip Brown of Horns247, Beard’s contract is for seven years and $35 million. The former Texas Tech head coach was making the same amount in Lubbock, while Shaka Smart had a contract for $3.4 million a year.
With Beard making the same amount of money at Texas as he did at Texas Tech, it proves he did not make the switch for a bigger payday. An alumnus of the University of Texas, Beard is here to do one thing – win basketball games.
Source: Chris Beard has agreed to a seven-year, $35 million deal at #Texas. https://t.co/7NzWnkfDoL pic.twitter.com/mPr2c9OE1X
— Horns247 (@Horns247) April 2, 2021
Texas Tech Athletic Director Kirby Hocutt said he and Beard had discussed a “lifetime, rolling contract” in the past. Beard refused and the Red Raiders were not given the opportunity to counter Texas’ offer.
While Beard has seven years on his contract, success will be required from fans before it expires. Six seasons have passed since the Longhorns last won an NCAA Tournament game, while Beard has made it as far as the national championship. He will immediately bring a winning attitude in the postseason to Austin.