Auburn coach Gus Malzahn received a six-year contract extension on Friday night that includes a $3.85 million salary in 2014 and a $250,000 raise in subsequent years.
In Malzahn's first season after replacing fired Gene Chizik, he orchestrated a turnaround that saw the Tigers go from 3-9 in 2012 to an 11-1 overall record an 7-1 mark in 2013 in the Southeastern Conference.
Auburn plays Missouri (11-1) for the SEC championship on Saturday.
"As I've said before, we want Coach Malzahn to be at Auburn for a long time," athletic director Jay Jacobs said. "The new contract includes a raise and extension and is our statement that Auburn is committed to Coach Malzahn for the long haul.
"While this season has been remarkable, I'm equally excited about the future of our program under his leadership. The future of Auburn football is very bright."
Earlier in the week, there were reports that Malzahn told friends that Texas was his dream job.
Malzahn's original contract paid $2.3 million for five years, which ranked 11th out of 14 coaches in the SEC. The raise boosts Malzahn to sixth.
In light of the Texas rumors and after the Tigers' thrilling victory over Alabama in the Iron Bowl last Saturday, Auburn moved quickly to secure Malzahn.
"Jay made a good recommendation and I support it," Auburn president Jay Gogue said. "A lot of programs would love to have Coach Malzahn, so this is a good move that allows him to continue taking Auburn football where our fans want it. I've consulted with the president pro tem of the Auburn Board, and he let me know that he supports it as well."