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Nebraska Cornhuskers coach Matt Rhule has reportedly signed a two-year extension, keeping him in Lincoln through 2032, according to ESPN Pete Thamel. The deal includes a $15 million buyout this year, effectively eliminating him from any jobs in this coaching cycle.
Rhule was mentioned during the latest coaching rumors and many have speculated about his future in Lincoln. This is mostly due to Penn State moving on from James Franklin.
The assumed "dream job" for Rhule at his alma mater had Huskers fans wondering if he'll make a jump within the Big Ten. There was even a premature report in the early hours of Thursday morning by On SI's Josh Peterson that had temporarily put everyone's fears to bed. What was initially thought to be a fake report actually came early before anything was official from Nebraska.
Sources: Nebraska coach Matt Rhule signed a two-year contract extension this morning, which will take him through the 2032 season. It includes a $15 million buyout this year that effectively eliminates him from any jobs in this coaching cycle. pic.twitter.com/k0oCne5SHH
— Pete Thamel (@PeteThamel) October 30, 2025Just another wrinkle in the crazy coaching cycle. Will Compton even jumped in the conversation to set the record straight before Rhule inked his new deal. Husker Nation, Just got off the phone. I can tell you with ABSOLUTE CERTAINTY that Coach Rhule has not signed an extension," Compton Wrote on X. "Hopefully that S-- changes tomorrow. Go Big Red." Ask and you shall receive.
With Rhule now out, the next name up on Penn State's list is Texas A&M's Mike Elko. The Pennsylvania native has led the Aggies to a 16-5 record since 2024, including being one the last unbeaten teams this year.
"Elko should take that [Penn State] job," a source told ESPN.
Rhule was 15th on the highest-paid coaches list at $8.5 million per year before the new deal, according to USA TODAY Sports. His buyout rivals the one Franklin will receive from Penn State at $49.6 million.
Nebraska hosts No. 23 USC on Saturday (7:30 p.m., NBC).
More college football news:
- Deion Sanders buyout, contract details as Colorado Buffaloes coach
- Was Adidas behind James Franklin's firing? Penn State breaks silence on rumor
- Brian Kelly buyout, contract details as LSU Tigers coach
- Indiana coach Curt Cignetti's salary bump of 2,729% in four years is insane
- Paul Finebaum tells Dabo Swinney 'Time is up' at Clemson
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