Mike Elko is a professional football coach. He has an estimated net worth of $10-$15 million as of 2023. Elko has maximized his income through his coaching career at several colleges. His latest big deal at Texas A&M will undoubtedly raise his value in the coming years. His other two major contracts were with Duke University and Texas A&M (during his first stint).
Michael Elko, also known as Mike Elko, was born on July 28, 1977 in South Brunswick, New Jersey, USA. Elko graduated from South Brunswick High School in 1995. He was the defender of the football team in his school. Later in his career, he was a safety at the University of Pennsylvania. After his undergraduate studies, he began working as a graduate assistant at Stony Brook University. In 2000, Elko returned to his alma mater, Alma, as the defensive backs coach. Similarly, he has held defensive coordinator, linebacker, defensive back and associate head coaching positions at several universities. After his initial tenure as the defensive coordinator at Texas A&M, he will take over as the head coach at Duke for the first time in 2022. Elko returned to Texas A&M as the head coach for the 2024 season on November 27, 2023.
Mike Elko’s salary and contract
The American football coach reportedly has a net worth between $10 million and $15 million. Elko began his coaching career as a graduate assistant at Stony Brook and quickly became the head coach. His early coaching career at Merchant Marine, Fordham, Richmond, Hofstra, Bowling Green and Wake Forest is shrouded in mystery. No information is available on his contracts with these organizations. Mike signed with the Notre Dame Fighting Irish in 2017 and was reportedly paid a total of $1,486,376, including a one-time payment of $494,666. He left Notre Dame after just one year to become the defensive coordinator for the Texas A&M Aggies. Elko was awarded $178,644 in damages after leaving the Fighting Irish.
Elko reportedly had a three-year deal with the Aggies that paid him an average of $1.8 million each year. Likewise, Duke hired Mike as their head coach and paid him $3.5 million a year. Now the 2022 ACC Coach of the Year is back at Texas A&M for a second term, reportedly signing a six-year, $42 million contract.
The termination of his Texas A&M contract
Mike Elko took over as head coach after the Aggies fired Jimbo Fisher in November 2023. Elko’s contract is for six years and is worth a total of $42 million, with an annual bonus of $7 million. Redemption terms are based on a flat percentage, with 75% redeemed for years 1-3 and 80% redeemed for years 4-6. The contract includes $11,000,000 in employee benefits. Elko will also receive $100,000 for each SEC Championship Game appearance. Texas A&M lined up playoff incentives, each of which will result in an automatic one-year contract extension for Elko.
These incentives include a $1 million bonus for making the College Football Playoff (CFP), a $1.5 million bonus for making the CFP quarterfinals or an SEC title. Similarly, $2 million for advancing to the CFP Semifinals, $2.5 million for advancing to the CFP National Championship Game, and $3.5 million for winning the CFP National Championship.
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Source: vcmp.edu.vn