Texas hires TCU's Chris Del Conte as athletic director

AUSTIN, Texas (AP) -- The University of Texas has hired TCU athletic director Chris Del Conte for the same position with the Longhorns.

Texas made the announcement Saturday.

Del Conte moves from one Big 12 school to another to take over one of the largest and wealthiest athletic departments in the country. He succeeds Mike Perrin, who was hired in 2015 when Steve Patterson was forced out after less than two years.

A person with knowledge of Del Conte's contract told The Associated Press he has a seven-year deal with an annual salary starting at $1.3 million. The person spoke on condition of anonymity because the school was not yet ready to publicly release contract details

Del Conte will head a Texas program that is starved for success on the football field. After three straight losing seasons, the Longhorns (6-6) play in the Texas Bowl under first-year coach Tom Herman. Del Conte will lead a basketball program that plans to build a new on-campus arena after 40 years in the Frank Erwin Center.