UCF and George O'Leary have agreed to a new contract that will make the 10-year Knights coach one of the highest paid in the American, according to sources.
The contract is expected to average $2-plus million annually after incentives over the course of the four-year deal.
UCF and O'Leary confirmed to CBSSports.com that both parties have reached an agreement but did not comment on particulars. Athletic director Todd Stansbury is currently out of town. Jack Reale, O'Leary's agent, said his client's most updated contract goes until the end of the 2017 season.
O'Leary – fresh off a 12-win season and a Fiesta Bowl victory over Baylor -- said Monday he's pleased with the Knights' long-term commitment to football.
O'Leary made a reported $1.5 million during the 2013 season. UCF makes a proactive move for a coach with four double-digit-win seasons at a once-stagnate program.
“It's more about how much commitment to the program (than the salaries),” O'Leary said. “They've been good to us. To me, it's about camaraderie. The salaries (nationally) are so out of whack now, it's ridiculous.”
Cincinnati's Tommy Tuberville is the American's highest paid at more than $3 million. SMU's June Jones was second at around $2 million before O'Leary's deal, so the Knights could have the AAC's second-highest-paid coach in the retooled league that just lost Louisville to the ACC.
O'Leary expects to push the Knights' momentum into 2014, when the team will be “pretty solid” but must fill one large void – replacing No. 3 overall draft pick Blake Bortles.
“I just have to find a quarterback,” O'Leary said. “You don't have plans for a junior to leave early. We should have everyone else back.”