What Is Herm Edwards’ Buyout at Arizona State?

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Arizona State head coach Herm Edwards in the first half during an NCAA college football game against Northern Arizona, Thursday, Sept. 1, 2022, in Tempe, Ariz. (AP Photo/Rick Scuteri)
(AP Photo/Rick Scuteri)
Andrew Doughty @DoughtyBetMGM Sep 19, 2022, 10:52 AM
  • Edwards was fired on Sunday, Sept. 18.
  • He signed an extension in early 2020.
  • Arizona State is facing an NCAA investigation.

Arizona State athletics director Ray Anderson fired head coach Todd Graham in late 2017 – and paid him a $12.8-million buyout – and hired his friend Herm Edwards because he wasn’t satisfied with “going to the Cactus Bowl and the Sun Bowl.”

Two years later, Edwards and Arizona State played in the Sun Bowl, which pleased Anderson so much that he rewarded Edwards with a contract extension and fat raise instead of a trip to the college football hot seat.

Edwards coached only 20 more games; he was fired on Sunday, Sept. 18, after the Sun Devils’ loss to Eastern Michigan.

What Is Herm Edwards’ Contract?

Herm Edwards’ initial contract, signed in December 2017, included an annual base salary of $2 million and an annual raise of $250,000 (starting in 2019):

  • 2018: $2 million
  • 2019: $2.25 million
  • 2020: $2.5 million
  • 2021: $2.75 million
  • 2022: $3 million

The extension increased his base salary to $3 million for 2020 with annual raises of $200,000 from 2021-24:

  • 2020: $3 million
  • 2021: $3.2 million
  • 2022: $3.4 million
  • 2023: $3.6 million
  • 2024: $3.8 million

What Is Herm Edwards’ Buyout?

For now, Herm Edwards was presumably fired by Arizona State without cause, a critical note given the ongoing NCAA investigation, therefore he’s owed a buyout.

The buyout is 100% of the remaining value of his contract.

Edwards is due roughly $900,000 for the remainder of 2022 plus $3.6 million in 2023 and $3.8 million in 2024. The total buyout equals approximately $8.3 million.

If fired for cause – i.e., most likely “termination for cause due to NCAA violations” per section 13, H., of his contract – Edwards is owed nothing and must pay the university $75,000.

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About the Author

Andrew Doughty

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Andrew Doughty is a writer for BetMGM with a focus on college football, NFL, college basketball, and NASCAR. A graduate of the University of Kansas, he previously wrote for Sports Illustrated and HERO Sports.

Andrew Doughty is a writer for BetMGM with a focus on college football, NFL, college basketball, and NASCAR. A graduate of the University of Kansas, he previously wrote for Sports Illustrated and HERO Sports.