Bobby Petrino, Louisville Agree to New Contract: Latest Details and Reaction

Two years after the start of his second stint as Louisville's head football coach, Bobby Petrino was rewarded with a new, seven-year contract Thursday. 

Louisville made the move official at a press conference involving Petrino and athletic director Tom Jurich, per CN/2 Sports in Kentucky:

According to ESPN.com's Brett McMurphy, the deal is worth $30.625 million, which averages out to $4.35 million per season.

The new contract is a two-year extension of his existing contract, and Jurich is excited to have Petrino in the fold over the long haul, per Rocco Gasparro of GoCards.com:

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I'm thrilled with the job that Bobby has done here, and it's been great to have his wife Becky, their children and three grandchildren back in the city of Louisville. Their commitment to the community through the Petrino Family Foundation has been extremely successful in raising charitable funds and assisting our community. Bobby has done an excellent job reinforcing our commitment to academics and career development. He has exceeded my expectations on the field, especially closing last year with a win in the Music City Bowl over a talented Texas A&M team. I think the future of this program is extremely bright, and I'm excited that with this extension, Bobby has reinforced his commitment to the University of Louisville.

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As reported by Andrea Adelson of ESPN.com, that contract puts Petrino in elite company with regard to highly paid coaches in the ACC:

Petrino and the Cardinals are coming off an 8-5 season that concluded with a Music City Bowl victory over Texas A&M. That came on the heels of a 9-4 year in 2014 after Petrino returned to Louisville from Western Kentucky.

The 55-year-old Montana native's collegiate head coaching career began at Louisville in 2003, and he enjoyed a great deal of success with a record of 41-9 in four seasons before jumping ship to the Atlanta Falcons.

Petrino lasted just 13 games in the NFL before taking over as head coach at Arkansas.

He boasts a career mark of 100-39 in the college ranks, and he is 58-18 overall during his six seasons at the helm for the Cardinals.

While Petrino has yet to firmly establish Louisville as an ACC title contender over the past two years, his track record is an impressive one. In his quest to return the school to a national power, he can now be confident he has Louisville's full support.

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