COLLEGE STATION – The Texas A&M Board of Regents approved a $4.4 million buyout of former football coach Dennis Franchione’s contract on Friday.
Franchione resigned on Nov. 23 following the Aggies’ regular season. His buyout originally was about $8.5 million. But secondary NCAA violations stemming from his secret booster newsletter – the VIP Connection – significantly reduced the number that Franchione and A&M agreed upon.
Franchione’s $2 million annual contract ran through 2012. The Aggies hired Houston Texans offensive coordinator Mike Sherman to replace him on Nov. 26.
Franchione will receive $1.7 million in the first year of the buyout. The second and third years of the buyout are mitigated and whatever salary he receives from a potential new job would count against what A&M owes on the deal.
The Aggies (7-5) play Penn State (8-4) on Dec. 29 in the Valero Alamo Bowl. Defensive coordinator Gary Darnell is serving as A&M’s interim coach.
The regents also approved Sherman’s $1.8 million annual contract over seven years.
bzwerneman@express-news.net
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