The University of Alabama Board of Trustees has approved a contract extension for football coach Nick Saban. His new contract extends through January of 2022.
Saban's new contract raises his salary to $6.5 million a year. He'll also get a $400,000 per year completion bonus and $100,000 contribution to Saban scholarship. His life insurance coverage also increases from $5 million to $6 million.
See the press release from Alabama Athletics Communications below:
"The Compensation Committee of the University of Alabama Board of Trustees approved the contract extension for head football coach Nick Saban on Tuesday. The new agreement extends the contract through January of 2022.
"We are pleased to announce that Coach Saban's contract extension has been approved and that he'll be our head football coach for many years to come," said Bill Battle, University of Alabama Director of Athletics. "He is the best coach in the country and he's brought Alabama back to the pinnacle of college football. His success on the field is obviously second to none, but Coach Saban's influence on academics and all the other areas of our athletic programs are equally impressive to me."
Saban, who arrived in Tuscaloosa in 2007, has led the Crimson Tide to three national championships and his Alabama teams have won a total of 72 games over the last six seasons. He is one of just three college coaches in the poll era to win three national titles (2009, 2011 and 2012) in four years, joining Frank Leahy of Notre Dame and Tom Osborne of Nebraska. A five-time National Coach of the Year, Saban is one of four coaches in the poll era to win four national championships (Alabama's Paul "Bear" Bryant, John McKay of USC and Leahy).
"We are honored by the commitment the University of Alabama has made to us with this new contract." said Saban. "It is certainly a mutual agreement in terms of our commitment to the University of Alabama. We will continue to work hard to keep our football program among the nation's elite. My passion has always been to develop young men to their full potential as student-athletes. We've had great success in that area at Alabama and I'm appreciative of all the support and the resources we receive from the administration in order to make that happen. Our graduation rates are among the best in the country and that means as much or more than the victories on the field. We want our players to be more successful in life because they were involved with our program and I think we've been able do that. Terry and I are also proud to continue to contribute to the growth at the University of Alabama, this community, and the state of Alabama. We've been able to do some outstanding things through Nick's Kids, the First Generation Scholarship Fund and we're proud to help build the new St. Francis University Student Center. The past eight years have been productive in so many ways and we are grateful to call Alabama our home."
The Crimson Tide has been just as successful in the classroom and in the community as they have been on the football field during Saban's tenure at the Capstone. On last year's team, 28 players had already received their degree prior to the Sugar Bowl which was the most in the country. Over the last six seasons, 89 players have competed in bowl games having already graduated.
The 2011 team earned the Disney Spirit Award for their response to the community following the devastating tornado. The team joined Nick's Kids and Habitat for Humanity in rebuilding a total of 15 homes in the Tuscaloosa area. The Sabans have distributed more than $4 million to needy organizations throughout the state since they arrived in Tuscaloosa in 2007. In addition, they pledged a $1 million gift through the First Generation Scholarship Fund which allows eight students each year to be the first in their family to attend college. Most recently, the Sabans pledged a gift to the new St. Francis University Student Center and it will be named in their honor.
The Board of Trustees also approved contract extensions for volleyball coach Ed Allen, soccer coach Todd Bramble, as well as other football staff members."