Nebraska has signed coach Matt Rhule to a two-year contract extension which will take him through the 2032 season, the school announced Thursday.
The extension includes an increase in Rhule's buyout this season to $15 million from $5 million, which would effectively eliminate him from taking another job in this cycle.
Rhule and his family's happiness at Nebraska, where he's in his third year as head coach, was the primary driver behind him agreeing to a new deal, per ESPN sources. Nebraska is 6-2 this season, and Rhule led the program to its first bowl game since 2016 last year. He has spoken frequently about the potential of the Nebraska program.
"The University of Nebraska, the city of Lincoln and the state of Nebraska are special. It is a place our family is proud to call home," Rhule said in a statement. "We have outstanding leadership from [Nebraska president] Dr. [Jeffrey P.] Gold and [athletic director] Troy Dannen, and I appreciate the support and confidence they have shown in our staff. Our focus remains on building Nebraska Football into a perennial championship contender."
Rhule had been frequently been linked to the open job at his alma mater, Penn State. And this extension essentially takes another prominent name out of contention for the eight power conference jobs that have opened so far this year.
The new deal does not include any change in base compensation. It does offer the additional incentive for base salary if Nebraska reaches the College Football Playoff. There's an innovative new clause in the deal that states every time Nebraska qualifies for the CFP, Rhule's base salary for each year on the deal increases by $1 million.
Rhule's salary throughout the course of the deal has an AAV of more than $11.7 million (including retention bonuses). That number puts him in the highest echelon of college coaches over the course of the deal.
Rhule's two additional years are at $12.5 million, the same as the final year of his current deal in 2030. The deal remains 90% guaranteed.
This season, Rhule is currently in the top 15 in salary at $8.5 million. Prior to the extension, the deal included significant escalators in the contract, as in 2027, he'll make $11 million (with retention bonus).
The new deal comes at a time when Nebraska is trending toward the program's best season in nearly a decade, as Nebraska hasn't reached back-to-back bowls since 2016. That 9-4 season under Mike Riley is also the last year the Cornhuskers won more than eight games in a year.
"Coach Rhule has shown he is the right leader at the right time for Nebraska Football. We look forward to him and his family being in Lincoln for a long time," Dannen said in a statement. "Our program has seen significant progress under Matt's leadership, and at this stage in the evolution of the program continuity and stability are critical. I welcome the opportunity to continue to partner with Matt and his staff to build a program that will make everyone associated with Nebraska Football proud. Go Big Red!"
Nebraska hired Rhule in November 2022 after five consecutive losing seasons under Scott Frost. Rhule had been fired earlier in the year by the Carolina Panthers, but he brought a strong track record as a college coach and program builder at both Temple and Baylor.
While Trev Alberts hired Rhule to replace Scott Frost following the 2022 season, Rhule agreed to the extension under second-year athletic director Troy Dannen.
Rhule's track record includes an American Athletic Conference title at Temple in 2016 and a wholesale rebuild at Baylor that included a Sugar Bowl appearance after the 2019 season.
