Steve Sarkisian’s College Football Playoff run in 2023 and his apparent flirtation with Alabama last month has paid off in a major way.

It was reported Jan. 13 that Sarkisian had agreed to a four-year extension with the Longhorns following the retirement of his former boss, Alabama’s Nick Saban. The details emerged Saturday regarding Sarkisian’s new deal, which is set to be approved by the Texas Board of Regents in the coming days.

Sarkisian will get a raise from $5.8 million to $10.3 million beginning with the 2024 season (which marks Texas’ SEC debut), with an automatic $100,000 raise every year through the contract’s end in 2030. That salary puts the 49-year-old Sarkisian behind only Georgia’s Kirby Smart and Clemson’s Dabo Swinney — both of whom have multiple national championships — among the highest-paid coaches in college football.

Sarkisian, Alabama’s offensive coordinator in 2019-2020, is 25-14 in three seasons at Texas. The Longhorns broke through with their best season in more than a decade in 2023, going 12-2 and winning the Big 12 championship before losing to Washington in the Sugar Bowl CFP semifinal.

Saban retired on Jan. 10, leading to immediate speculation Sarkisian might be a candidate to become head coach of the Crimson Tide. Whether or not “Sark” ever seriously considered the Alabama job is a matter of speculation, but on the morning of Jan. 12 (the same day the Crimson Tide hired Washington’s Kalen DeBoer to replace Saban), he re-posted a post by the official Texas football Twitter/X account that included the phrase “We’re just getting started.”

“I said it when I came here three years ago, this is a dream job for me,” Sarkisian said in a statement released on Jan 13. “It’s a destination job, and I’m fired up every day to be the head coach at The University of Texas. We’re thrilled with what we’ve been able to accomplish and proud of the culture we’ve built and the way our players have grown — on and off the field. But we’re just getting started.

“I’ve said it all along, we’ve been building this program for long term success. We’re here to chase greatness, win championships, and be one of the best in the nation year in and year out. And we’re so lucky to have an awesome group of players, a great staff, an unbelievably supportive administration, and the power of Longhorn Nation behind us to help us do that.”

According to On3 Sports, Sarkisian is eligible for up to $1.85 million in annual performance bonuses. He could earn $300,000 for winning the SEC championship game, $250,000 if Texas reaches the playoff and up $1.25 million if the Longhorns win the national championship.

In addition to Sarkisian, tight ends coach Jeff Banks, offensive coordinator Kyle Flood and defensive coordinator Pete Kwiatkowski received contract extensions through the 2026 season. Banks and Flood are also both former Alabama assistants who were part of the Crimson Tide’s 2020 national championship team with Sarkisian.

Texas opens the 2024 season at home Aug. 31 vs. Colorado State, then faces defending national champion Michigan in Ann Arbor the following week. The Longhorns make their SEC debut Sept. 28 at home vs. Mississippi State.