BOULDER, Colo. (AP) The University of Colorado on Tuesday offered to extend head coach Gary Barnett's contract through 2007 and boost his annual compensation to $1.2 million.

Barnett, 55, led the Buffaloes to a 10-3 record last season and the team's first Big 12 Conference championship. Barnett, who was hired in 1999 makes $720,000 a year. His current contract expires in 2005.

The new contract must still be approved by university regents, who next meet Aug. 8.

"We believe this package will put him in the top 10 percent of college coaches," university spokesman David Plati said.

The proposed deal includes money from radio and television, summer camp and the school's contract with Nike. It replaces all annual supplemental bonuses with a $2 million incentive that will be paid when the contract is completed.

Barnett was not available for comment Tuesday.

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