Coach Woodcock: Cha. Ching.

We mentioned earlier today that Alabama’s board of trustees had rubber stamped head coach Nick Saban‘s contract extension.

We also mentioned that the three-year contract extension would likely include a bump in compensation.

Suffice to say, there is indeed quite a bit of a bump financially for Coach Woodcock.

According to the Mobile Press-Register, Saban stands to earn $42.35 million if he remains at Alabama through the 2017 season.  The new nine-year agreement includes lump-sum bonuses if he’s the head coach of the Tide at the end of specified years — $1.6 million in Jan. 2012, $1.7 million in Jan. 2015 and $1.7 million in Jan. 2018.

Saban’s original called for him to average $4.125 million per season; the new deal averages out to around $4.7 million.

Perhaps the most important clause financially in the contract calls for a review of Saban’s deal in 2015 compared to those of top coaches around the country at that time.

The new deal also calls for parties to meet in Feb. 2015 to “determine marketplace trends” in regards to football coaches in the SEC and nationally.

Per the contract, if Saban makes less than the “total guaranteed annual compensation” of three highest-paid SEC football coaches or less than that of the average of the five highest-paid coaches NCAA football coaches, “UA agrees to increase employee’s total guaranteed annual compensation to the higher of the two averages.”

In other words, as long as Saban stays at Alabama and the current trend of backing the Brinks truck up to the doorsteps of the top college coaches continues, Saban stands to earn a helluva lot more than the $43 million the deal originally called for.