Texas A&M Aggies head coach Jimbo Fisher looks on during warm ups prior to the game against the Mississippi State Bulldogs. Maria Lysaker-Imagn Images

Texas A&M Aggies' 12th Man Foundation Losing Revenue Amid Jimbo Fisher Buyout

Originally posted on Texas A&M Aggies on SI
By Jon Alfano | Last updated May 13, 2025 3:15 PM ET

On Nov. 12, 2023, the Texas A&M Aggies fired head coach Jimbo Fisher and triggered a gargantuan buyout of $77 million, far and away the largest in college football history.

Now, it seems there's some financial trouble afoot.

According to Sportico's Daniel Libit, Texas A&M's 12th Man Foundation has seen its revenue drop substantially over the past year. The foundation brought in over $120 million in revenue during the 2023 fiscal year, but only around $95 million in the 2024 fiscal year.

"The 12th Man Foundation, Texas A&M’s athletic fundraising arm, saw its annual revenue drop by more than $25 million from fiscal year 2023 to 2024—just as it assumed the hefty financial burden of helping cover former Aggies football coach Jimbo Fisher’s massive buyout," Libit wrote.

"According to a copy of the organization’s latest tax return, obtained by Sportico, the 12th Man Foundation reported bringing in $95.7 million in FY24, set off against $116 million in expenditures. It brought in $121 million in total revenue for FY23, according to its previous IRS filings. The latest returns show the foundation’s overall reported shortfall owed primarily to a decrease in contributions and grants, which went from $113 million in FY23 to $85 million in FY24."

Not helping matters is the fact that Texas A&M's athletic department expenditures have skyrocketed at the same time. According to the school's financial disclosures, the athletic department spent $243.8 million in FY24, up from $194.6 million in FY23 and the fourth-highest increase among FBS public universities.

Through the 2024 fiscal year, the school owed Fisher $26.7 million in liquidated damages. Former athletic director Ross Bjork, who now holds the same position at Ohio State, previously said that the 12th Man Foundation would cover the $19.4 million owed to Fisher within 60 days of his firing.

Texas A&M lured Fisher away from Florida State in 2017, hoping that the former national champion could bring similar results to College Station. Unfortunately, he posted a record of just 45-25 (27-21 in SEC play) over his seven seasons with the Aggies, despite routinely bringing in excellent recruiting classes. The wheels fell off during a 5-7 season in 2022, the Aggies' first losing season since 2009, and a 6-4 start in 2023 wasn't enough to save his job.

The Aggies brought in Mike Elko, their former defensive coordinator before leaving to become the head coach at Duke, to replace Fisher. They went 8-5 in Elko's first season at the helm.

This article first appeared on Texas A&M Aggies on SI and was syndicated with permission.

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