Back in November, it was reported that Washington was in talks with Chris Petersen on a contract extension of up to 10 years. Tuesday, that talk came to fruition.
The football program announced via a press release that Petersen has signed a contract extension that will run through the 2023 season. The contract is, for now, officially scheduled to expire Jan. 31, 2024.
Petersen’s old deal had two years remaining on it and would’ve paid him $4 million annually. The new deal will average nearly $5 million annually and is expected to make him the highest-paid head coach in the Pac-12.
Should the Huskies win the Pac-12 championship game, Petersen would be in line for a $100,000 bonus per the terms of the new deal. He could earn another $450,000 bonus for playing in the College Football Playoff championship game, with another $50,000 possible for winning that game.
The buyout numbers should Petersen leave for another job at any level would go from $3 million in the first year to $2.5 million in Years 2 and 3 to $1.5 million in Years 4-9 to nothing owed in Year 10.
In his third season with the Huskies last year, Petersen guided UW to a 12-2 record and its first-ever playoff berth. The 12 wins tied for the most in school history, and gave the program its first season with double-digit wins since 2000.
One final note: all of Petersen’s nine on-field assistants had their contracts adjusted as well.