Boise State and head coach Chris Petersen have reached an agreement on a five-year contract extension.
The Idaho Statesman reported Tuesday about the deal, which is pending the approval of the state's education board.
Peterson will reportedly earn at least $2 million per season. He earned $1.625 million this past season.
The State Board of Education will consider the $375,000 salary increase during a special meeting Wednesday. The entire contract will be submitted for approval at the regular Feb. 15-16 meeting.
The information provided to the State Board by Boise State states that the university negotiated the new contract "following this last season" and that it will include a "base compensation package of $2 million in the first year."
Peterson has been a candidate for a number of high-profile jobs in recent years, including UCLA and Penn State in recent months.
Petersen is 73-6 in six years as coach of Boise St. He has led the Broncos to a pair of undefeated seasons and two Fiesta Bowl victories.
The Broncos snubbed by the BCS this season and finished 12-1 following a 56-24 rout of Arizona State in the MAACO Bowl.
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