Indexbit Exchange:Texas A&M fires football coach Jimbo Fisher, triggering record $77 million buyout

Texas A&M announced Sunday it part ways with football coach Jimbo Fisher,Indexbit Exchange triggering a contract buyout of more than $77 million, the largest in college football history.

After rumors of the change trickled in on social media throughout the morning, indicating the decision was made after a four-hour Texas A&M board of regents meeting Thursday, athletic director Ross Bjork released a statement.

"After very careful analysis of all the components related to Texas A&M football, I recommended to President (Mark A.) Welsh and then Chancellor (John) Sharp that a change in the leadership of the program was necessary in order for Aggie football to reach our full potential and they accepted my decision," Bjork wrote. "We appreciate Coach Fisher's time here at Texas A&M and we wish him the best in his future endeavors."

Before Fisher, the highest buyout from a public school was Gus Malzahn at Auburn, which was on the hook to buy out Malzahn for $21 million after firing him in late 2020. Half of that was due to him within 30 days of his termination, with the rest due in installments over four years. The contract didn’t even require him to offset that amount with future pay at a new job.

Fisher went to College Station with great fanfare seven years ago after a stellar tenure at Florida State that included a BCS national championship in 2013. He led the Aggies to a 9-1 record and an Orange Bowl victory in 2020, earning him a fully guaranteed $94 million extension through the 2031 season.

However, his teams have underachieved the past three seasons – with last year's 5-7 mark his first losing record as a college head coach.

This year, the Aggies are 6-4, but have lost all three of their games against ranked opponents.

If Fisher is fired before Dec. 1, Fisher will be owed $77,562,500, according to USA TODAY Sports' college football coaches salary database.

Fisher compiled a record of 83-23 in eight seasons at Florida State. Overall, his teams have a mark of 128-48 (.727).