The stakes in college football have never been higher. It doesn’t matter if a program owes its head coach millions. If the on-field show is bad, you’re going to be fired. James Franklin was relieved from Penn State despite his $48 million buyout. LSU made the decision to let go of Brian Kelly, even with a substantial buyout of $53 million. In the same vein, the Maryland Terrapins are in a position (4-4) where the program might consider firing its head coach, Mike Locksley. However, that will surely come with some significant costs.

Firing a head coach in the current college football landscape has become increasingly expensive. When a blue-blood program like Georgia fired Ray Goff in 1995, it cost the school just $500,000. Even a legendary head coach like Steve Spurrier at Florida was owed just $4 million upon stepping down in 2001. But now, the picture is wholly different, and that would affect Maryland.

What is Mike Locksley’s buyout?

Mike Locksley arrived in College Park, Maryland, in December 2018, on a reported $12.5 million contract. It was a five-year deal initially, which would run until 2023. However, owing to Maryland’s 2021 New Era Pinstripe Bowl win over Virginia Tech and consecutive winning seasons, the program decided to extend the head coach’s contract. In 2022, Locksley was given a $21 million contract extension that would run through the 2026 season. As for his buyout?

At the time, the buyout remained “65 percent of the remaining value of the contract.” However, in April 2023, Maryland again agreed to amended terms, which run until 2027. This time, Mike Locksley received a $5.5 million per year deal, with an annual increase of $300,000. “We have won bowl games in each of the last two years, something that hadn’t been done at Maryland in nearly 20 years. Coach Locksley has done an amazing job revitalizing our football program,” said Damon Evans, Maryland AD. However, the results are now not improving.

Maryland has won just 4 games this year and is on a 4-game losing streak. The team’s most recent loss came against Indiana yesterday, as Curt Cignetti steamrolled them 55-10. The performances have put Mike Locksley under greater scrutiny, and the program might even fire him if more losses pile up. As for his buyout, it is currently estimated at $13.3 million, which is the 38th highest in the CFB world. But the program may not even need to pay it in full immediately.

How much will Maryland owe if it fires him?

Mike Locksley, as of today, earns $6.1 million for the 2025 season, which could increase with potential bonuses. However, his relatively affordable buyout at just $13.3 million makes things tricky for the head coach’s job security. For context, the team’s schedule is further complicated by tough opponents. In Week 11, Maryland will travel to Rutgers, followed by another road game at Illinois. Not to mention, Michigan and Michigan State are the remaining two teams Locksley will face. This surely puts Locksley in a precarious position.

That said, firing Locksley would be a different act altogether. However, the dynamics aren’t in his favor. For instance, Locksley himself has opened up that he has “lost the locker room” due to NIL scenarios. Not just that, but his team has been outscored 58-7 just in the fourth quarter of the last four games. Not to mention that the head coach was involved in tampering allegations by Richmond’s Russ Huesman. A firing scenario surely looks very likely for Maryland and Mike Locksley.

So, if the program decided to fire the head coach, that $13.3 million would be mostly distributed in installments. According to the head coach’s contract terms, Maryland will be required to pay half of the buyout within 60 days of his termination if he is fired without cause. The remaining buyout will most likely be paid in installments.