Bronco Mendenhall surprised the college football world when he chose to return to coaching, and his new job fits him well. The New Mexico Lobos needed someone to turn the program around, and they gave Mendenhall a chance to do so.
What did it cost to entice the program to lure their new coach away from his ranch life? We look at Mendenhall’s salary, contract, and net worth for the 2024 season and beyond.
Bronco Mendenhall’s Salary and Contract in 2024
Mendenhall signed a five-year, $6 million contract to become the Lobos’ next coach. To show their confidence in their new coach, Mendenhall was offered an annual salary of $800,000 more than Danny Gonzales’ salary before he was fired.
When Mendenhall retired from Virginia, many believed that would be the last we saw of him.
MORE: 2024 Mountain West Transfer Portal Rankings
He found success with the Cavaliers and BYU (accumulating a 135-81 record) before then, so many thought he achieved all that he wanted to in his coaching career. Turns out, he couldn’t stay away.
When New Mexico inevitably fired Gonzales, the administration knew they had to find someone to turn the program around quickly. Mendenhall wasn’t someone that many expected to be considered, but he quickly became the favorite. He also served as New Mexico’s defensive coordinator from 1998 to 2002.
Under his new contract, Mendenhall earns a base salary starting at $1.2 million but can boost his income with various incentives:
- Mountain West Conference Championship Game appearance: $25,000
- Mountain West Championship: $50,000
- Mountain West Coach of the Year: $25,000
- National Coach of the Year: $50,000
- Non-CFP Bowl Appearance: $50,000
- CFP Playoff Appearance:$50,000
- Each CFP Playoff Win (including a first-round bye): $50,000
- CFP National Championship: $100,000
If New Mexico meets certain academic requirements, Mendenhall receives additional compensation:
- Greater than or equal to 950 APR (2023-24 & beyond): $10,000
- Greater than or equal to 960 APR (2023-24 & beyond): $15,000
- Greater than or equal to 970 APR (2023-24 & beyond): $20,000
If Mendenhall is fired without cause, New Mexico must pay him certain amounts depending on when the contract is terminated.
- Contract Years One or Two: 100% of salary for the remainder of the contract term.
- Contract Year Three: 80% of salary for the remainder of the contract term.
- Contract Year Four: 65% of salary for the remainder of the contract term.
- Contract Years Five: 50% of salary for the remainder of the contract term.
Given his success at previous stops, Mendenhall could take another job if he turns the Lobos around. If he leaves for another program, he’d have to pay a buyout to New Mexico:
- Contract Year One: $3,000,000
- Contract Year Two: $2,000,000
- Contract Year Three: $750,000
- Contract Year Four: $500,000
- Contract Year Five: $300,000
New Mexico’s struggles under the previous regime forced the administration to find someone who could quickly change things, and Mendenhall’s contract shows their desire to improve.
Mendenhall’s Net Worth
Some of the best things about coaching contracts are the little things they receive as part of their contract. Mendenhall will receive a $25,000 moving expense to come to New Mexico, a courtesy vehicle, and tickets to football and basketball games.
While there has yet to be a reported number for Mendhall’s assistant pool salary, it’d be a safe assumption to think New Mexico would make it competitive with the conference.
MORE: Top 10 Highest-Paid College Football Head Coaches
On top of his coaching salary, Mendenhall owns a couple of ranches. His most recent ranch is in Bigfork, Montana. His previous ranch had a 5-bedroom, 4-bathroom, 6,800-square-foot home and 28 acres of land. It was sold in 2022 with an initial asking price of $4.875 million.
Miss any action from the top college QB Rankings during the 2023 football season? Want to track all the movement with the college football transfer portal? College Football Network has you covered with that and more!