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BREAKING: Texas hires Chris Beard away from Texas Tech

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The worst-case scenario has come into fruition.

NCAA Basketball: NCAA Tournament-Utah State at Texas Tech IndyStar-USA TODAY Sports

Our concerns Texas would hire Chris Beard away from Texas Tech have formed into reality.

We knew yesterday Longhorn officials were scheduled to meet with Beard today, and we knew some of the priorities Beard had in mind. It was always a possibility Texas would make the move today, when his buyout was reduced significantly.

Obviously this is devastating news for Tech basketball fans. Beard led this program to heights no one knew could be reached. Now, he goes to the Red Raiders’ biggest rival.

Beard’s new contract is reported to be good for seven years and $35 million - just $200,000 less than the Longhorns are paying new head coach Steve Sarkisian.

The news comes as Roy Williams announces his retirement. Some were concerned Beard would pass on Texas and go after the North Carolina job, but those rumors quickly dispelled moments later when Goodman broke the Texas news.

The repercussions of the move are catastrophic. Finding someone half as good as Beard to run the Tech basketball program is a challenge in itself, let alone the immediate effects of possible transfers and draft declarations.

We’ll have more info throughout the day - stay tuned, and keep your heads up, Red Raider fans.