Indiana coach Curt Cignetti is cashing in on his first national championship run — even more than initially expected.
Athletic department officials announced Monday that the two-time national coach of the year has signed a memorandum of understanding on an eight-year contract extension, paying him an annual average of $13.2 million — or an increase of about $1.6 million per year from what school officials said Cignetti would earn when he first agreed to the extension in October.
School officials released the document Cignetti signed Feb. 4.
He joins Georgia coach Kirby Smart and LSU coach Lane Kiffin as the only active Football Bowl Subdivision coaches to receive paychecks of $13 million or more. The payouts could be even higher if Cignetti earns bonuses for winning Big Ten or national coach of the year honors in addition to playoff appearances and conference titles. The 64-year-old Cignetti already has said he hopes to retire at Indiana.
The new deal calls for a base salary of $500,000 per year through the 2033 season and a $1 million retention bonus on Nov. 30 of each year, starting this fall. The remaining portion of the $105.6 million will be collected from outside, promotional and marketing income.
Cignetti initially agreed to an eight-year extension worth $92.8 million — an annual average of $11.6 million — but university officials agreed to modify the deal as the Hoosiers remained undefeated and pursued the first football national championship in school history.
It's the third time Cignetti has received a raise since he took over the losingest program in FBS history in November 2024. All he's done since arriving is produce the two best seasons in school history while becoming one of college football's fan favorites for his quick quips and unique facial expressions. Players have embraced him, too, telling many of their favorite Cignetti tales.
Just ask tight end Riley Nowakowski, who recounted his favorite Cignetti story during the recent NFL scouting combine in Indianapolis.
“I think (Alberto Mendoza) was in the game, and he pulled like four runs in a row,” Nowakowski said, referring to last season's victory over Illinois. “He kept pulling it, kept pulling it, kept pulling it, and then after the fourth time, it was a terrible read. So in the middle of the game, (Cignetti) tells our coach, ‘Get (Alberto) over here.’ Bert’s like, ‘What, it’s the middle of a game, what are you doing?' And (Cignetti) goes, ‘We’re not paying you to run the ball, hand the ball off, right? We’re up like 70 points, but he’s pissed off, yelling at Bert, and (Cignetti) just turned back at me and gave me one of his little smiles, and he was just like, ’You like that now?'"
Cignetti wasted no time delivering on his promise to win after leading James Madison to the most successful transition from the Football Championship Subdivision to the FBS.
The son of Hall of Fame coach Frank Cignetti and a former Alabama assistant led Indiana to a school record 11 wins and its first College Football Playoff appearance in his first season with the Hoosiers.
Last season, he outdid that mark by producing the first 16-0 mark in major college football since the 1890s. The Hoosiers also won their first outright Big Ten crown since 1945, beat Miami on its home field to claim the national title and shed the label of having the most all-time losses in FBS history.
Mendoza's older brother, Fernando, also became the first Indiana player to win the Heisman Trophy and is expected to be the No. 1 overall pick in April's NFL draft.
The reward: A record nine players, including Mendoza and Nowakowski, attended the recent combine in Indianapolis while Cignetti got another pay raise and school officials continued to invest heavily in keeping the coach's staff together.
Offensive coordinator Mike Shanahan and defensive coordinator Bryant Haines each agreed to three-year contract extensions worth about $3 million per year in December, making them two of the highest-paid assistants in the FBS. Haines won this year's Broyles Award, which goes to the nation's top assistant coach.
Indiana will begin next season with the longest winning streak (16) and longest home winning streak (15) in the FBS. Cignetti has never lost a home game with the Hoosiers, who open defense of their league and national titles at home against North Texas on Sept. 5.