Bucky McMillan agreed to a five-year, $16 million deal when Texas A&M hired him as its new head men’s basketball coach last month, per the memorandum of understanding GigEm247 obtained through an open records request.
According to the MOU, McMillan is set to begin with an annual base salary of $3 million and will receive a $100,000 bump in each ensuing contract year. The MOU has an effective date of April 4 and runs through March 31, 2030. During an executive session on April 22, A&M’s Board of Regents unanimously approved for the deal to be authorized.
Below are the other primary terms of the agreement.
Buyout details
If A&M fires McMillan without cause, it would owe him 80% of the total remaining annual base salary in addition to any earned but unpaid annual base salary and incentive compensation. The MOU stipulated McMillan would have a duty to mitigate those liquidated damages, requiring him to attempt to find and secure a similar coaching position to help offset those potential severance payments.
Should McMillan terminate the agreement without cause, here is what he would owe the Aggies depending on the timing: $5 million in Year 1 (April 4, 2025 to March 31, 2026), $4 million in Year 2 (April 1, 2026 to March 31, 2027), $2.5 million in Year 3 (April 1, 2027 to March 31, 2028), $1.25 million in Year 4 (April 1, 2028 to March 31, 2029) and $500,000 in Year 5 (April 1, 2029 to March 31, 2030). Any liquidated damages would be owed within 60 days from when the agreement is terminated.
To hire McMillan, A&M agreed to cover the $850,000 buyout from his contract with Samford University. McMillan previously served as the head coach for the Bulldogs and received a contract extension for the second straight year last March, expanding his deal to 2030.
However, if McMillan terminates his agreement with the Aggies within one calendar year of the effective date, he would be required to repay them the $850,000 buyout in addition to his liquidated damages.
Incentive payments
McMillan will have the potential to unlock numerous incentives, with the cumulative annual cap set at $850,000. He also would receive a $200,000 retention bonus – which would not count toward the $850,000 cap – for remaining employed as the head coach for the Aggies on March 31, 2028.
Here are the other annual incentives McMillan could collect:
• Cumulative conference incentives: $100,000 for winning or sharing the regular season conference title, $50,000 for winning the conference tournament.
• Non-cumulative NCAA Tournament incentives: $50,000 for making the NCAA Tournament (including the First Four stage), $75,000 for advancing to the Round of 32, $150,000 for advancing to the Sweet 16, $200,000 for advancing to the Elite Eight, $250,000 for advancing to the Final Four, $350,000 for advancing to the national championship and $600,000 for winning the national championship.
• Cumulative individual incentives: $50,000 for being named the SEC Coach of the Year, $50,000 for being named National Coach of the Year.
Staff salary pool
For the staff McMillan puts together, A&M is set to provide a minimum salary pool of $2.2 million.
The Aggies announced five hires McMillan made this offseason: associate head coach Mitch Cole, assistant coaches Kyle Keller, TJ Cleveland and Frank Haith, and director of operations/assistant general manager Warren Fitzpatrick.
Revenue sharing
The proposed settlement of three antitrust lawsuits (House v. NCAA, Hubbard v. NCAA and Carter v. NCAA) against the NCAA and the Power Five conferences – which awaits final approval from U.S. District Judge Claudia Wilken – would introduce a revenue-sharing system in college athletics.
Per the MOU, McMillan and athletics director Trev Alberts will discuss and mutually agree in writing the level of revenue sharing investment for the team “that is commensurate with the men’s basketball programs of the Southeastern Conference.”
According to a report from Pete Thamel of ESPN last month, A&M is expected to have nearly $7 million available in NIL and revenue sharing for the 2025-26 men’s basketball season.
Additional benefits
A&M agreed to reimburse McMillan up to $75,000 in relocation expenses while offering him temporary housing for a maximum of 60 days.
The other miscellaneous benefits outlined in the MOU include two vehicles provided from the university, the approval to own and/or operate university-branded summer basketball camps, a local country club membership, eight tickets for every men’s basketball game, four tickets for all other A&M athletics games and the ability for his spouse and dependents to travel to away and postseason contests at no cost.
Lastly, the MOU stipulated McMillan will discuss with Alberts and mutually agree in writing on acceptable means of travel – including private air transportation – for all of his recruiting and program-related activities. At minimum, McMillan will be provided with first-class travel in all of those circumstances.
