LUBBOCK, Texas — Joey McGuire signed a six-year, $20.2 million deal to be Texas Tech’s head football coach, a Texas Tech official confirmed Tuesday.
The contract averages out to a $3.37 million annual salary.
In year one of his deal, McGuire will get $3 million, per Texas Tech. He is eligible to receive up to $1 million annually in bonuses.
Texas Tech also paid $250,000 that will go to Baylor to buy out McGuire’s contract there.
McGuire’s contract includes a salary pool of $4.8 million to spend on his 10 assistant coaches and $1.85 million for his strength and support staff, a Tech official said. The number is a significant upgrade from the $3.3 million Matt Wells was able to allocate.
Watch the official introduction of Joey McGuire as new football coach of Texas Tech in the player below: