Texas Tech Hoops | Chris Beard’s Contract Situation

A few weeks ago the Texas Tech men’s basketball program leaped into the Top 10 in the national polls and all was good in Raiderland! There were some Red Raider fans screaming to get a contract extension/renegotiation in place ASAP. Thinking that the upper echelon programs would come calling for our guy and make him an offer he won’t be able to refuse at the end of this season.

Others were hesitant, and wanted to tap the brakes until they saw more of the regular season to change the terms of what Coach Beard was offered. Those fans thought it was too good to be true. That the product we were seeing on the court would come crashing back down to earth soon. Texas Tech has firsthand knowledge of what a massive financial extension can do to a program when the head coach was given it prematurely.

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I was one of the fans that was hoping things were being worked behind closed doors, but wanted to get closer towards halfway through the Big 12 games until I wrote about Coach Beard’s financial terms with Texas Tech University. Right now, we have settled back down to earth… not coming off a significant win to a Kansas or West Virginia top ranked team. We had suffered two miserable road losses to Texas and Iowa State. Yet, we bounced back and beat a competitive Oklahoma State team last evening in dazzling comeback fashion.

We are a top team in the Big 12, and still a top 15 team in the nation. Texas Tech basketball is exceeding expectations, and there is no denying that our squad is really good. Also, the nation is noticing us and Chris Beard is generating some National Coach of the Year consideration from the big sports media platforms. There has got to be some athletic directors out there that have his name currently at the top of their wish lists.

Here’s what we know; Coach Beard makes a little over $1.3 million this season (from which puts him as the #9 out of the 10 paid head coaches in the Big 12. Only Mike Boynton ($1 million per year) at Oklahoma State makes less than Coach Beard in our conference.

Texas, Oklahoma, Kansas, and West Virginia pay their coach $3 million or more per season. K-State and Baylor pay their head coaches more than $2 million per year. We don’t know about TCU because it is a private school; but one can assume Jamie Dixon definitely makes more than $2 million each season.

Chris Beard’s contract is through 2021 and with his base salary plus rights fees; which include the standard type stuff like apparel contracts, speaking engagements, TV shows, etc. will extend him to $1.5 million in his final season. That is still the second lowest amount in the Big 12. That pay is not good enough for what Chris Bead is doing with this program. This is where I can say that Chris Beard does deserve more than to be in the cellar of Big 12 coaches pay grade, and I hope that a deal is already in the works. It doesn’t have to be inked or negotiated until later in the season. Yet, after the regular season is finished we need to give Coach Beard a raise to be at least in the Scott Drew and Bruce Weber range.

We know that other college basketball programs will be flashing cash his way, and I wanted to remind everyone of a thing Chris Beard said when he accepted the job in Lubbock…

I think Coach Beard wants to stay and be a Red Raider for life, and it would take something extraordinary to pull him out of Lubbock. Yet, never say never. Here is my question to Texas Tech fans – What is a reasonable extension/renegotiated contract for our head guy? I am going to interact and log some thoughts/reactions on this. We will also put another post up at the end of the season and see how we all feel at that point.

Wreck ’em Tech!!!


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