The professional football coach, Mike Elko, is reported to have a net worth between $10-$15 million as of 2024.
Elko garnered most of the fortune from his coaching career at different institutions.
His recent mammoth contract at Texas A&M would certainly increase his worth in the coming years.
Besides this contract, his other two significant deals were with Duke University and Texas A&M (during his first stint).
Michael or Mike Elko was born on July 28, 1977, in South Brunswick, New Jersey, United States.
In 1995, Elko graduated from South Brunswick High School. He served as the quarterback for the school’s football team.
Later, he played as a safety at the University of Pennsylvania. Following his collegiate career, he started working as a graduate assistant at Stony Brook University.
In 2000, Elko joined his alma mater as a defensive back coach. Similarly, he worked as a defensive coordinator, linebacker, defensive back, and assistant head coach at different institutions.
After his first stint at Texas A&M as a defensive coordinator, he joined Duke University as the head coach for the first time in 2022.
On November 27, 2023, Elko returned to Texas A&M as their head coach for the 2024 season.
Mike Elko Net Worth: Salary & Contract
The American football coach reportedly enjoys an impressive net worth of around $10-$15 million.
Starting his coaching career as a graduate assistant at Stony Brook, Elko significantly made his way up to become the head coach.
His early coaching tenure with colleges such as Merchant Marine, Fordham, Richmond, Hofstra, Bowling Green, and Wake Forest remains shrouded in obscurity. There is no information regarding his contracts with these institutions.
Mike joined the Notre Dame Fighting Irish in 2017 and was reportedly paid $1,486,376, including a one-time $494,666 payment.
Just after one year of service at Notre, he departed to assume the defensive coordinator position with Texas A&M Aggies. After he left the Fighting Irish team, Elko was paid $178,644 in compensation.
With the Aggies, Elko reportedly had a contract deal that paid him an average of $1.8 million per year for three years.
Similarly, Duke signed Mike as the head coach and offered him $3.5 million per year.
Now, the 2022 ACC Coach of the Year has joined Texas A&M for the second stint, reportedly signing a deal worth $42 million for 6 years.
His Texas A&M Contract Deal Breakdown
Elko assumed the position of head coach after the Aggies fired Jimbo Fisher in November 2023.
Elko’s contract spans six years with a total value of $42 million, earning him an annual salary of $7 million.
The buyout terms are structured as a flat-rate percentage, with a 75% buyout for Years 1-3 and an 80% buyout for Years 4-6. The deal includes an $11,000,000 staff salary pool.
Incentives are incorporated into the agreement, featuring a $50,000 bonus for being named SEC Coach of the Year and a $100,000 bonus for winning a national coach of the year award.
Additionally, Elko stands to earn $100,000 for each appearance in the SEC Championship Game.
Texas A&M has outlined postseason incentives, each triggering an automatic one-year contract extension for Elko.
These incentives include $1 million for a College Football Playoff (CFP) appearance, $1.5 million for a CFP Quarterfinals appearance or an SEC championship.
Similarly, $2 million for a CFP Semifinals appearance, $2.5 million for a CFP National Championship Game appearance, and $3.5 million for winning the CFP National Championship.
