After leading Indiana to the national title, coach Curt Cignetti has finalized a contract with the school that will pay him an average of $13.2 million through the 2033 season, a source confirmed to ESPN.

The length of Cignetti’s deal does not change, but his salary will increase from $11.6 million annually.

Indiana announced a new deal for Cignetti in October, but it included a “good market faith review” that activated if the Hoosiers reached the College Football Playoff semifinal, which they after a Jan. 1 win over Alabama in the Rose Bowl. The review required the sides to meet within 120 days after the CFP semifinal and adjust Cignetti’s salary to rank no less than third among active head coaches, according to the term sheet.

The $13.2 million annual salary places Cignetti alongside Georgia’s Kirby Smart and new LSU coach Lane Kiffin as the only coaches earning at least $13 million nationally. Cignetti’s contract has been revised three times in two seasons, as he arrived in late 2023 with a six-year, $27 million deal.

Cignetti is 27-2 at Indiana, which won its first national title in 2025 and its first outright Big Ten title since 1945.

After Indiana announced his new contract in October, Cignetti, 64, said he planned on retiring at the school.

“I couldn’t be more proud to be a Hoosier,” Cignetti said. “The way that this state has embraced us and our success in football has meant more to me than anything else.”

The agreement announced in October raised Cignetti’s buyout to $15 million if he left for another job and would pay him his full remaining salary if fired without cause. Indiana also has awarded new multiyear contracts to coordinators Mike Shanahan (offense) and Bryant Haines (defense), who last week won the Broyles Award as the nation’s top assistant.

“We’re all-in, and going to continue to invest and make certain that we’ve got our priorities in line,” athletic director Scott Dolson told ESPN in October. “[Cignetti is] Priority 1, and then it’s retaining our staff, and it’s having the resources to build a roster.”

The Indianapolis Star first reported terms of Cignetti’s latest contract.