Holgorsen signs extension through 2017

After just one season as head coach of the West Virginia football team, Dana Holgorsen has signed a six-year contract extension through the 2017 season.

Holgorsen, who was expected to make $1.725 million this season, will now be paid an annualized salary of $2.3 million in 2012.

"This contract brings us closer to the salaries of other major university head coaches and those within our conference," said West Virginia Athletic Director Oliver Luck. "We have said all along we are going to pay our coach a competitive salary for a very valued and competitive position."

Holgorsen’s new contract includes yearly raises.

The 41-year old head coach will earn raises of $200,000 in year two and three, and a raises of $100,000 in year four and five of the agreement.

"I have full confidence in coach Holgorsen and his staff and want them to be with us for a long time," Luck said. "He is the right man to lead our football program into the Big 12 (Conference) and beyond."

Holgorsen had signed a term sheet upon being hired, but was yet to sign a contract, despite arriving in Morgantown nearly 20 months ago.

"Not only does this affect me, this it affects my children and the whole staff," Holgorsen said. "I’m really excited to get this done and out of the way. We’re working hard to make it better around here within the football program on a daily basis. This will help achieve what our long-term goals are."

The written agreement includes a $2 million buyout if coach Holgorsen would be lured elsewhere and would be forced to breach the contract.

Luck admits that Holgorsen’s recent success will make him a very attractive hire around the country.

"I think he’ s a tremendous coach. I’d like for him to coach in Morgantown for as long as he’d like to coach here," Luck said. "I believe that coach Holgorsen is a coach who will be in demand. He’s young, he’s innovative and he’s got a great track record of success."

Holgorsen’s contract also includes performance-based incentives for team academic achievements, regular season victories, conference titles, postseason bowl appearances and many other ranking and honors.

For example, a Big 12 Conference Title would earn Holgorsen $200,000. Whereas a National Championship would give the second-year head coach a $250,000 incentive.

But it seems Holgorsen is just content with getting the papers signed and moving forward as head coach of the Mountaineers.

"I am excited to be the head coach of the West Virginia University Mountaineers, I enjoy living in this state, and I look forward to many more successful years in Morgantown," he said.