Texas Tech has given athletic director Kirby Hocutt a two-year contract extension into late 2027 that includes annual raises.
The deal announced Monday for Hocutt, who has been Texas Tech's AD since 2011, goes until Aug. 31, 2027. It includes an increase in compensation to $1.5 million on Sept. 1, with 3 percent increases each year after that.
Texas Tech President Lawrence Schovanec said the school's athletic programs have enjoyed unprecedented success as a result of Hocutt's leadership and development.
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"He has assembled an administrative staff and a group of coaches who reflect his priorities to develop our student-athletes, academically and athletically, while competing at the highest level," Schovanec said. "His success in fundraising has resulted in impressive improvements in facilities and resources."
The new contract for the 48-year-old Hocutt came a week after Chris Beard, The Associated Press national men's basketball coach of the year, got a new deal through the 2024-25 season that makes him one of the nation's highest-paid coaches. The Red Raiders last month played in their first national championship game, a loss to Virginia, after reaching the Elite Eight a year ago.
Texas Tech's baseball team has been to the College World Series three of the past five seasons. Like Beard, baseball coach Tim Tadlock was hired by Hocutt.
Hocutt in November made the difficult decision to change football coaches. He fired former Red Raiders quarterback Kliff Kingsbury, who went 35-40 in six seasons as a first-time head coach after being hired by Hocutt. Kingsbury is now head coach of the NFL's Arizona Cardinals.
New football coach Matt Wells came to Texas Tech after an impressive turnaround the past six seasons at Utah State, his alma mater.
The Red Raiders AD is also the former chairman of the College Football Playoff selection committee.