Indiana doesn't want its head football coach to go anywhere anytime soon, and the school just gave him a brand new contract to prove it.
During the Hoosiers’ bye week, the school wasted no time inking Cignetti to a new contract. On Saturday morning, Indiana announced that Cignetti has signed a new deal, one that raises his salary significantly.
The new contract puts Cignetti among the highest-paid head coaches in the Big Ten. The first-year head coach has led the Hoosiers to their first-ever 10-0 start in school history, including a shot at both the College Football Playoff and Big Ten title.
MORE: Curt Cignetti's best quotes at Indiana
Curt Cignetti contract details
Here are some details from his contract, via the Indianapolis Star:
- The new deal will pay him $8 million annually, including a $1 million retention bonus each year
- It's close to a $3.5 million increase, as his initial salary was $4.5 million
- The contract goes through 2032, his original one only went through 2029
- The new deal makes him the highest-paid employee in Indiana school history
- The contract also includes support from the school for program infrastructure, like staffing and salary pools for assistants.
Curt Cignetti contract buyout
The obvious question that is now asked is how much is Cignetti's buyout with the new contract. While the details of his exact buyout amount aren't public yet, it is likely substantial. If Cignetti gets hired elsewhere, his new school will have to pay whatever is left on the deal.
At $8 million annually for the next eight years, you can assume it's pretty hefty. Indiana is obviously trying to prevent Cignetti, who will undoubtedly be a hot name in upcoming coaching carousels, from going elsewhere.
Highest-paid coaches in college football
Cignetti's new deal is a significant pay increase, although it doesn't put him among some of the highest-paid coaches nationally. He is closer to one of the more higher-paid coaches in the Big Ten, however, and he's among the top 20 highest-paid coaches in the country.
Here's where his new contract stacks up among some of the other big-name head coaches in the country in terms of annual salary. We're using the numbers from the USA Today's head coach salary database, which was last updated last month:
- Georgia's Kirby Smart: $13.28 million
- Clemson's Dabo Swinney: $11.13 million
- Texas' Steve Sarkisian: $10.03 million
- USC's Lincoln Riley: $10.04 million
- Ohio State's Ryan Day: $10.02 million
- Florida State's Mike Norvell: $10.00 million
- Alabama's Kalen DeBoer: $10.00 million
- LSU's Brian Kelly: $9.98 million
- Kentucky's Mark Stoops: $9.01 million
- Ole Miss' Lane Kiffin: $9.00 million
- Missouri's Eli Drinkwitz: $9 million
- Tennessee's Josh Heupel: $9 million
- Penn State's James Franklin: $8.5 million
- Oregon's Dan Lanning: $8.2 million
- Oklahoma's Brent Venables: $8.15 million
- Indiana's Curt Cignetti: $8 million
"After first meeting Coach Cignetti, we were very confident that he was the perfect fit for what we were trying to build with our football program," IU athletic director Scott Dolson said in the school's official release. "We were confident IU could become a winning program and we love what he's building here. We love the student-athletes that he's bringing here. We love how our fanbase has rallied around this team and made Memorial Stadium the place to be on Saturday afternoons.
"And now, we love the fact that he's going to be doing all those things right here in Bloomington for a long, long time."
Indiana's bye week this week comes right before the biggest test for the Hoosiers so far this season, when they go on the road to face No. 2 Ohio State next Saturday. ESPN's FPI gives the Buckeyes a 73.1% chance to win at home against the Hoosiers.
Cignetti's new deal with Indiana may not keep the head coach in Bloomington forever, with how much schools are willing to pay to get their guy. But Indiana is sending a message that they don't want him going anywhere anytime soon with this new deal.
