Nebraska football extends Matt Rhule's contract

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The University of Nebraska has extended Matt Rhule’s contract two years, the athletic department announced Thursday. The updated contract will tie Rhule to Nebraska through the 2032 season. Previously, his contract covered the 2030 season.

Rhule won’t get a base salary bump, but can earn extra money or a “salary escalator” for making the College Football Playoff, Husker Athletics said in a news release.

The third-year coach already has an escalating base salary. Under the old contract, Rhule was scheduled to make $7.5 million this year, which would increase incrementally to $12.5 million by 2030.

At a press conference, Rhule and Director of Athletics Troy Dannen discussed the news.

"This is our home. We love living here," Rhule said. “My goal is to win enough games here that someday I can retire here."

Rhule said he rediscovered his love for coaching at Nebraska, after he was let go by the NFL's Carolina Panthers in 2022.

Prior to Carolina, Rhule hopped around the college ranks, rebuilding programs at Temple University in Philadelphia and Baylor University.

“I’ve left too many teams. I’ve left too many players,” Rhule said. “I could not leave these guys. I love this team.”

A base salary of $12.5 million will carry over for the 2031 and 2032 seasons, under the restructured contract, Dannen said.

Additionally, Coach Rhule’s buyout will jump to $15 million, which Dannen called the “high standard for buyouts in the country." That buyout decreases throughout the years of the contract.

Discussions with Coach Rhule and his agent about a possible extension started at the beginning of the season, Dannen said.

“Take care of somebody, compensate them for what you believe they’re worth, before you have to,” Dannen said.

As for the state of the football program, Dannen said “all I see is progress,” adding that Rhule has improved the Huskers in his second and third year at NU, as he did at Temple and Baylor.

Rhule will earn a $1 million increase to his base salary each time the Huskers finish in the top 16 of the College Football Playoff. At this time, there’s a 12-team playoff format, but discussion of expanding to 24 teams has ramped up recently.

The playoff incentive for increasing base pay is unique nationally, Dannen said, and he expects others to follow suit.

The restructured deal for Rhule, who has led Nebraska to a 6-2 record this season, surfaced less than three weeks after former Penn State coach James Franklin was let go.

Many national writers made a quick connection to Rhule as a leading candidate. He played for the Nittany Lion football team and worked with its current athletic director Pat Kraft at Temple.

On Oct. 13, the day after Franklin was fired, Rhule was asked about the opening.

“I love Penn State, met my wife there. It’s my alma mater,” Rhule said.

But later in the answer he added, “I came here (Nebraska) for two reasons,” Rhule said. “I love the community here and wanted to live here and I love it here. And I wanted to rebuild Nebraska football.”

He also emphasized, and has several times in the past, that Nebraska is an elite program with an elite stadium atmosphere.

On Thursday, Dannen said in a statement that Rhule is “the right leader at the right time” for the Big Red.

“We look forward to him and his family being in Lincoln for a long time,” Dannen said. “Our program has seen significant progress under Matt’s leadership, and at this stage in the evolution of the program continuity and stability are critical. I welcome the opportunity to continue to partner with Matt and his staff to build a program that will make everyone associated with Nebraska Football proud. Go Big Red!”

Rhule and his team won’t leave the spotlight soon. On Saturday, the Huskers host No. 23 USC on primetime NBC television, with kickoff slated for 6:30 p.m. CT.