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Tom Herman re-ups with Houston

Houston coach Tom Herman is staying with the Cougars. For one more season at least.

The school announced he'd signed a new contract extension that's worth at least $2.8 million per year.

“My family and I are excited to renew our commitment to the University of Houston Football program. We live in one of the greatest cities, and combined with a Tier One University and with the commitments to our program, it provides a great atmosphere for a championship culture,” Herman said in a statement. “We are thrilled, and we are completely focused on tomorrow’s American Championship and representing the City of Houston on the national stage once again.”

Herman was a hot coaching candidate for Power Five schools despite finishing up his first season at Houston. He came to the Cougars from Ohio State, where he was the Buckeyes offensive coordinator.

But Herman elected to stay put and the school gave him a substantial raise. Herman's team is playing Temple on Saturday for the American Athletic Conference title. If Houston wins, it will likely go to a New Year's Six bowl by being the highest-ranked non-Power Five team in the College Football Playoff rankings.

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Some thought Herman would be a candidate at Missouri, which hired defensive coordinator Barry Odom as its head coach Thursday night. Herman was hired at Houston by athletic director Mack Rhoades, the man who is now the athletic director at Mizzou.

Herman's original contract with Houston had a base salary of $1.35 million with additional incentives earned based on the Cougars' performance this season. The buyout on his new contract is now $2.5 million until February of 2017.

His presence in the AAC gives the conference even more up-and-coming coaches for the 2015 season. UCF hired Oregon offensive coordinator Scott Frost earlier this week and Memphis hired Arizona State offensive coordinator Mike Norvell on Thursday. Temple coach Matt Rhule has also said he's not currently talking to any other schools about moving on.

South Carolina, Rutgers and Virginia are among the Power Five schools still looking for new head coaches.

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Nick Bromberg is the assistant editor of Dr. Saturday on Yahoo Sports. Have a tip? Email him at nickbromberg@yahoo.com or follow him on Twitter!