Sources: Vols, DC Banks reach contract extension

The Tennessee Volunteers and defensive coordinator Tim Banks have agreed to a contract extension, sources told ESPN on Wednesday.

Banks led one of the country’s top defenses in 2024. The Vols held 11 of their 13 opponents under 20 points on defense and finished fifth nationally in yards per play allowed (4.56).

Banks received interest from multiple teams and coached this season on a contract that expires at the end of January. His new deal will pay him in the $2 million range annually, sources told ESPN, after he made $1.5 million this season.

A finalist for the Broyles Award as the top assistant coach in college football this season, Banks has been with Josh Heupel all four seasons at Tennessee after coaching under James Franklin at Penn State for five seasons.

Banks, 53, could be without one of his top players for part of next season. Cornerback Jermod McCoy, an ESPN second-team All-American, underwent surgery after tearing an ACL while training at his home in Texas, school officials said.

McCoy will miss spring practice, and his rehabilitation and recovery will determine whether he can get back in time for the start of the 2025 season.

The transfer from Oregon State was a key part of Tennessee’s defense as a sophomore and one of the top returning defensive backs in college football. He tied for the team lead with four interceptions, led the team with nine pass breakups and finished third with 44 total tackles. His 90.3 coverage grade by Pro Football Focus ranked fifth nationally among cornerbacks during the regular season.

Tennessee tied for seventh nationally with 11 touchdown passes allowed in 13 games.