MORGANTOWN -- Big news today in Morgantown.
Coach Dana Holgorsen has signed a six-year contract extension worth $2.3 million a year plus performance incentive bonuses.
This is very welcome news to legions of Mountaineer fans and keeps one of the rising stars of college football in West Virginia for the forseeable future.
Want to read the whole contract? It's here.
From our breaking news:
By Jenn Menendez/Pittsburgh Post-Gazette
MORGANTOWN, W.Va. -- West Virginia head coach Dana Holgorsen signed a six-year contract extension, Athletic Director Oliver Luck announced this morning at a surprise press conference.
Holgorsen's salary will be $2.3 million under the new contract up from the $1.725 million he would have been paid this year. His base pay is $250,000 and the remainder comes from supplemental revenue generated by the athletic department and private sources, according to the University.
The contract calls for yearly raises of $200,000 in year two and three and $100,000 in years four and five. There is no raise in year six. The deal comes with a $2 million buyout, said Luck and signifies a "significant commitment."
The contract, signed by Holgorsen and Luck yesterday, states Holgorsen will receive incentive bonuses highlighted by $200,000 for winning a Big 12 title, $250,000 for winning a national title and $50,000 for a top-10 finish.
The incentives also include minor bonuses for things like a collective team grade point-average ($20,000 for 2.6 or higher) and final rankings in the major college polls. Incentives are capped at $600,000.
Holgorsen is set to embark on his second year as the Mountaineers head coach and lead the team into the Big 12 -- a conference he is more than familiar with having spent nearly 10 years as an assistant with Texas Tech and Oklahoma State.
"There's a lot of exciting things happening at WVU right now, not only within the football program, this adds to it, I think. Not only does this effect me, this effects my children, the whole staff. Really excited to get this done and out of the way," said Holgorsen.
The announcement was made shortly before 11 a.m. after reporters had arrived for a routine interview session with assistant coaches.
Holgorsen was promoted to head coach in June of 2011, a year early under peculiar circumstances when the late Bill Stewart was asked to resign.
He quickly left his mark.
The team went 10-3 last season, ending with a resounding 70-33 win in the Orange Bowl over Clemson,.
The team eked its way into that game by winning a share of the Big East then winning the tiebreaker that earned a BCS bowl bid.
"It's a significant committment. From the University to Coach Holgorsen. We're very excited that Dana is making a long term commitment to us and we're obviously excited about the season that's rapidly approaching," said Luck.