It's official: University of Texas Regents approved Charlie Strong's contract today. Strong will be paid $25.4 million over 5 years — $5 million per year with a $100,000 bonus available after every year.
In addition, the University of Texas Athletic Department will pay the University of Louisville $4.375 million to buyout Strong's contract with the university. The contract includes tiered bonuses, including a $25,000 bonus for both reaching and winning a non-major bowl game, a minimum $25,000 bonus for reaching a cumulative GPA of 2.9 among student athletes and a 2 percent salary bonus for placing in the college football top ten.
Below, you can see the contract in full, along with the press release from the UT Athletic Department: