Alabama may have fallen just short in its bid for another national championship back in January but the school is rewarding Nick Saban with a three-year contract extension that includes a $4 million signing bonus.
The school's board of trustees compensation committee approved the contract extension along with contracts of new athletics director Greg Byrne and several of the Crimson Tide assistant coaches in a meeting Tuesday.
Saban is set to make $7.1 million and along with the bonus for signing the deal, he would be paid more than $11 million this upcoming season.
The extension is unlike his previous contracts in that it is loaded with incentives. According to the details, provided by Al.com, Saban's annual salary will decrease: from $6.9 million annually to $6.725 million. But he'll make an additional $400,000 the next two seasons and $800,000 the two years after that. If he remains after the 2021 season, he'll receive a $3.6 million bonus.
The new contract would expire in 2024.
Saban is the second-highest paid college football coach in the country, behind Michigan's Jim Harbaugh, who makes more than $9 million annually and just ahead of Ohio State's Urban Meyer at $6 million.
