Indiana coach Tom Allen finalizes new seven-year, $27.3 million deal

Indiana wins in double-OT thriller (0:49)

Indiana's QB Peyton Ramsey keeps it on the sneak and wins it in a thrilling victory in double overtime vs. Purdue. (0:49)

Indiana coach Tom Allen has finalized a new seven-year, $27.3 million contract with the school after leading the Hoosiers to their first eight-win season since 1993.

Allen, who had been the Big Ten's lowest-paid coach, will earn an average of $3.9 million annually, which still ranks near the bottom of the conference. His contract, which runs through November 2026, is fully guaranteed for the first three years and 50 percent guaranteed for final four years. An additional year is added to the agreement every time Indiana reaches a bowl game, although the contract cannot exceed seven years.

"When I hired Tom to be our head football coach, I said I was doing so because he is a leader of men who is demanding without being demeaning, and a proven, successful coach on a national scale with deep Indiana ties who cares about his players, and they care back," Indiana athletic director Fred Glass said in a prepared statement.

The new deal includes an additional $500,000 for assistants and support staff.

Glass promoted Allen from defensive coordinator to head coach in December 2016 after Kevin Wilson resigned amid allegations of player mistreatment.

Allen, a New Castle, Indiana, native who coached high school football in the state before beginning his college career, is 18-19 in three seasons. His 18 wins mark the most for an Indiana coach in the first three seasons. This fall, the Hoosiers earned their first national ranking in 25 years and their first winning record in Big Ten play since 1993.

Allen's name had been mentioned as a possible candidate for vacancies at both Florida State and Ole Miss.

"We have a tremendous group of players, I am proud to be their head coach, and I am 100 percent committed to their success on the field, in the classroom and in life," Allen said in a prepared statement. "It's no secret Indiana University is a special place to me. I was born a Hoosier, raised a Hoosier and I am thrilled with the opportunity to remain a Hoosier for a long, long time to come."

A bowl victory would give Indiana nine wins for the first time since 1967, when it shared the Big Ten title with Minnesota and Purdue. The Hoosiers will learn their bowl destination Sunday.