Curt Cignetti says he plans to retire as the Indiana University football coach one day.

Indiana is certainly doing everything in their power to make that happen as the school announced they have signed a new 8-year deal with their football coach that will pay him $11.6 million a season. The deal is worth $93 million total.

The 64-year-old has IU ranked #3 in the country for the 1st time in program history after defeating Oregon last week on the road. Last year he led the Hoosiers to the College Football Playoff in his 1st season as the Hoosiers coach.

After the win over Oregon and Penn State’s firing of James Franklin, the buzz of whether Penn State could lure the Pennsylvania native away from Bloomington began to grow strongly.

Indiana quickly extinguished that fire by moving quickly to sign this new contract. In a video posted Thursday, Cignetti expressed his love for IU, the city of Bloomington and the state of Indiana as well as his appreciation for Indiana President Pam Whitten and Athletic Director Scott Dolson.

“We’ve accomplished a lot in a short amount of time but still have a lot of work to do,” Cignetti said. “I couldn’t be more proud to be a Hoosier and I plan on retiring as a Hoosier. The way this state has embraced us and our success in football has meant more to me than anything else. I just wanted to get on camera to let you know that Curt Cignetti is going to work daily to make Indiana the best they can be.”

Multiple reports say all $93 million is fully guaranteed and the buyout for Cignetti to leave Indiana has been increased to $15 million.

Indiana is 6-0 and will host Michigan City on Saturday.