Texas Tech officials are awaiting word on whether Red Raider Head Coach Mike Leach will accept their proposed extension offer.
Tech Athletic Director Gerald Myers sent a proposal to Leach's agent Friday afternoon. The offer is to extend his current contract three years and increase his salary.
He beat then #1 ranked Texas, put a "W" on the scoreboard against highly ranked Oklahoma State, lead the Red Raiders to a regular season finish with a school record of 11 -1 and topped it off with a share of the Big 12 South title. The man responsible: Coach Mike Leach.
"We had a great year in football, won a lot of really impressive games, had record breaking crowds and so we hope this is going to work out," Myers said.
Myers says the contract proposal is for five years, adding three years to Leach's current contract. The proposal is for $12.1 million. The first two years Leach would make $5.1 million and $7 million over the last three years of the contact.
Those are numbers Leach's agent tried to negotiate last spring. But according to an April e-mail Myers wrote back saying the athletics department's financial condition would not allow Leach to make more money. But on Friday, Myers told NewsChannel 11 he hopes to keep Leach. "We're pleased with Mike. We want Mike to be our coach regardless of what has been reported. I like Mike," Myers said.
However, wanting to keep Leach comes at a price. The proposed contract gives Leach a 20 percent raise. Chancellor Kent Hance says this is a fair offer, which will not leave the university's pocketbook empty. "We raise money for the football stadium but also for the engineering school and all the various academic part of the institution that's a big part and that's the number one reason we're here," Hance said.
Leach is already signed through 2010. If he agrees to the proposed contract, he would coach the Red Raiders through 2013.
Texas Tech Makes Extension Offer to Coach Leach
Friday, an offer of more than $10 million but less than $15 million, for the next five years, is on the table for Mike Leach.