Texas board approves Steve Sarkisian raise, extension

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The University of Texas System board of regents approved a raise and contract extension for football coach Steve Sarkisian on Thursday after the Longhorns advanced to the College Football Playoff semifinals for the second consecutive season.

The new deal extends Sarkisian's contract by one year through the 2031 season. It raises his salary this year from $10.4 million to $10.8 million. Annual raises will push his salary to $12.3 million by the final year.

Sarkisian agreed to the new contract in January, and it became official with the board's approval.

The regents also approved raises and one-year contract extensions for special teams coordinator Jeff Banks and linebackers…