Mike Elko, Texas A&M Reportedly Finalizing Contract, Where Deal Ranks Among CFB HCs

Having led Texas A&M to a 9-0 start and the No. 3 spot in the College Football Playoff rankings, head coach Mike Elko is going to be rewarded with a lucrative new contract.

According to ESPN's Pete Thamel, Elko and the Aggies are finalizing a six-year deal that will make him one of the five highest-paid coaches in the country.

Yahoo Sports' Ross Dellenger reported Elko's new deal is expected to pay him "upwards of $11 million annually."

Here's a look at the 10 highest-paid FBS coaches by average annual salary this season, via USA Today:

1. Kirby Smart (Georgia): $13.3 million
2. Ryan Day (Ohio State): $12.6 million
3. Lincoln Riley (USC): $11.6 million
4. Dabo Swinney (Clemson): $11.5 million
5. Steve Sarkisian (Texas): $10.8 million
6. Dan Lanning (Oregon): $10.4 million
7. Kalen DeBoer (Alabama): $10.3 million
8. Brian Kelly (LSU): $10.2 million (fired on Oct. 26)
9. Bill Belichick (North Carolina): $10.1 million
10. Lane Kiffin (Mississippi): $9 million

The Athletic's Ralph D. Russo noted Elko was receiving interest from Penn State after James Franklin's firing, but this move will keep him with the Aggies for the foreseeable future.

It has been a trend this season for programs to extend their coaches in an effort to prevent them from taking another job. Matt Rhule got a two-year extension from Nebraska in October after also being mentioned as a candidate at Penn State.

Elko is in his second season with the program after being hired in November 2023. He got the job at Texas A&M on the strength of a 16-9 record in two seasons at Duke, which was coming off three straight losing years prior to his arrival.

Texas A&M's initial contract with Elko was worth $42 million over six years, with additional incentives that include a $3.5 million payout for a national championship win.

The $7 million average annual salary on Elko's previous contract was tied for 32nd among FBS coaches with Minnesota's P.J. Fleck. He is just ahead of Utah's Kyle Whittingham at $6.93 million.

Texas A&M's nine wins so far in 2025 matches its highest single-season total in five years (9-1 in 2020). The last time the Aggies won at least 10 games was Johnny Manziel's Heisman-winning season in 2012 when they finished 11-2.

This season has already seen Elko lead the program to a marquee win over Notre Dame in South Bend. They close out the regular season at home against South Carolina (Nov. 15), Samford (Nov. 22) and at Texas (Nov. 28).

If the Aggies beat South Carolina and Texas, they will clinch their first appearance in the SEC Championship Game since joining the conference in 2012.