Charlie Strong will be sticking around in Cardinal red. Brett McMurphy of ESPN reports that Strong will receive an eight-year deal from Louisville which will be worth around $3.7 million a year.
Strong's new contract will make him the seventh highest paid coach in college football* and the highest paid coach in the Big East and soon the ACC, placing him behind Nick Saban of Alabama, of Texas, Bob Stoops of Oklahoma, Urban Meyer of Ohio State, Kirk Ferentz of Iowa and Les Miles of LSU. Strong will make almost a million dollars more than his next ACC coaching compatriot, Jimbo Fisher.
Charlie Strong now making about 30% more than any ACC coach.— TomahawkNation.com (@TomahawkNation) January 23, 2013
If Strong were to leave early to pursue another coaching job, he'd be forced to pay a hefty buyout. Strong's buyout for 2013 is set in stone at $5 million, with the buyout declining by $625,000 each year.
Strong was a hot coaching commodity this offseason after leading Louisville to a Sugar Bowl bid and a Big East title in his third season. Multiple SEC schools reportedly coveted him and tried to convince him to come back down to his old stomping grounds in the South. However, Louisville athletic director Tom Jurich made it quite clear long before the coaching negotiation process began that he'd do whatever it take to keep Strong, going as far to say that his daughters will definitely have lunch money. They'll have quite a bit of pocket change tomorrow.
Discuss Strong's contract extension with Louisville fans over at Card Chronicle.
*this is with regards to public salaries, as salaries from private schools do not have to be disclosed