Texas Tech and Kliff Kingsbury have agreed to a contract extension that will keep the 35-year old head coach in Lubbock until 2020. The deal is worth $22.9 million over 6 years.
The contract is reportedly worth $3.1 million in 2015 with a $400,000 raise every season, totaling $4.1 million by 2020. Kingsbury will be one of the FBS (Football Bowl Subdivision) top 20 highest paid coaches by 2015.
"This is where I want to be and I couldn't be happier," Kingsbury said in a statement issued by Texas Tech. "I can't wait to take this thing to the next level."
The Red Raiders went 8-5 in Kingsbury's first season as head coach at the University and won the Holiday Bowl, defeating Arizona State. He joined Texas Tech from Texas A&M, where he served as the Aggies offensive coordinator and quarterbacks coach, coaching Heisman Trophy winner Johnny Manziel.
Kingsbury was a successful quarterback at Texas Tech from 1999-2002, and holds 39 school records, 13 Big 12 conference records, and 7 NCAA FBS records. He later went on to have a rather unsuccessful 5-year career in the NFL.
There is an early termination clause worth $3.25 million if Kingsbury decides to leave for another NCAA job; $1.5 million if he decides to leave for the NFL.
Texas Tech is making great strides with Kingsbury at the helm of the football program. The university recently announced construction of a new indoor practice facility, south end zone complex, and renovation of the team's football training facility.
“There has never been a more exciting time within our football program than now,” Kirby Hocutt, Director of Athletics, said in the release. “I am very proud of the program Coach Kingsbury is building and I know our fans are as well. We can’t wait to kick off the season tomorrow night at Jones AT&T Stadium and are looking forward to a bright future."
The Red Raiders kick off the 2014 season on Saturday, August 30th, against the Central Arkansas Bears.