The No. 3 Indiana Hoosiers are going all in on head coach Curt Cignetti, not long after the 30-20 Week 7 win over the No. 8 Oregon Ducks. With the Hoosiers becoming a powerhouse in just two years under Cignetti, the program is rewarding him with a new contract extension.

Reports indicate that the 64-year-old head coach is signing an eight-year contract extension, paying him an average annual salary of $11.6 million, according to Chris Vannini of The Athletic. Indiana seemingly aims to remain on top of the college football world with Cignetti leading the way.

“NEWS: Indiana coach Curt Cignetti has agreed to a new 8-year contract through 2033. With a raise up to $11.6 million on average. That would be the third-highest salary nationally this year.”

Indiana athletic director Scott Dolson shared an official statement on the decision to sign Curt Cignetti to a new contract extension, per Nicole Auerbach of NBC Sports. It's clear that the Hoosiers have no interest in losing Cignetti, as Dolson claimed keeping the veteran coach with the program for the long haul was a top priority.

“We are committed to investing in IU Football in such a way that we can compete at a championship level, and the No. 1 priority in doing that is ensuring that Coach Cignetti is the leader of our program.”

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Shortly after the news broke, Indiana shared an image of Cignetti signing the contract.

The decision to extend the second-year coach comes amid rumors that the Penn State Nittany Lions were potentially interested in signing Curt Cignetti after firing James Franklin. Those rumors should die down now, as the Hoosiers have locked up their head coach for nearly a decade.

With the program finding massive success right now, and with a bright future ahead, Indiana may have just supplanted itself as a powerhouse in the college football world. Curt Cignetti and the Hoosiers will move on to Week 8, where they will take on the Michigan State Spartans.