Alabama board approves Saban's new deal

TUSCALOOSA, Ala. -- Alabama coach Nick Saban has received a three-year contract extension that will reward him richly if he sticks around for the next nine seasons.

The university system's Board of Trustees compensation committee unanimously approved the three-year extension through Jan. 31, 2018, on Wednesday. Saban would receive a series of three completion bonuses totaling $5 million if he is still the coach through 2011, 2014 and 2017. That means the contract would be worth $42.35 million if he remains through the nine-year deal, or about $4.7 million annually.

It also guarantees that he will remain among the top five highest paid college football coaches.