Indiana football head coach Curt Cignetti agreed to a new eight-year contract with an average compensation of $8 million, plus a $1 million annual retention bonus, on Nov. 16, 2024, to keep Cignetti in Bloomington through 2032.
The Indiana Daily Student received a copy of Cignetti’s memorandum of understanding on Monday.
Cignetti will make $200,000 more in annual outside, marketing and promotional income each year of the contract, which begins Dec. 1, 2024. During the first year of his contract, Cignetti is set to make $6.8 million in such income — which includes showing up for public appearances, participating in media interviews and cooperating with sponsorship agreements — and $8.2 million in his last.
The contract features a pair of Big Ten-related incentives.
If Indiana wins five conference games, Cignetti earns an additional $100,000. If it wins six games, he’ll receive a $150,000 bonus. The two are not cumulative, meaning Cignetti will either get one or neither.
The same applies for Big Ten finishing positions, as Cignetti makes $250,000 if the Hoosiers finish inside the top six in the conference, $500,000 if they finish second or $1 million if they win the conference championship.
Cignetti will receive a substantial payday this year if Indiana makes the College Football Playoffs. Here’s the bonus breakdown, with the highest finish applying:
CFP First Round Appearance: $500,000
CFP Quarterfinal Appearance: $600,000
CFP Semifinal Appearance: $700,000
CFP National Runner-Up: $1 million
CFP National Champions: $2 million
If the Hoosiers make a non-playoff bowl game, Cignetti earns a $200,000 bonus and an additional $50,000 if they win the game. He also gets $50,000 if he wins Big Ten Coach of the Year and $100,000 if he wins National Coach of the Year, both of which can be applied to this season.
Among the perks in his contract, Cignetti receives up to 50 hours of personal private plane usage per year, an annual $25,000 per-year courtesy car allowance and unlimited family use of the Pfau Golf Course and Driving Range.
Under the agreement, Cignetti gets $11 million for on-field staff and support members, the second-largest pool in the nation — Ohio State has an $11.4 million allocation.
Indiana (10-1, 7-1 Big Ten), in the midst of its first 10-win season in program history, will face Purdue (1-10, 0-8 Big Ten) at 7 p.m. Saturday inside Memorial Stadium.
