Lincoln – Nebraska Athletic Director Steve Pederson announced Tuesday that NU Head Football Coach Bill Callahan has signed a new five-year contract that runs through Jan. 31, 2012.

"I have said on numerous occasions that we want Coach Callahan to be the coach at Nebraska for a long time," Pederson said. "This commitment to Bill and his staff is a result of our belief that all the right ingredients are in place for long-term success. Bill has assembled a top-notch staff, and they are recruiting outstanding young men. He also has set a very high standard for discipline, integrity and work ethic that makes us proud as Nebraskans."

The new five-year agreement was reached late last week, but the final contract was not signed by both sides until today.

"We have a nationally televised game Saturday, and we want to focus all of our attention on Wake Forest because we have such great respect for that program," Callahan said. "Obviously, I also have the utmost respect for the University of Nebraska, the state of Nebraska and all the fans who support our players and our coaches. We’ve been given the support and the resources we need to achieve at the highest levels. I’m very excited to get that kind of commitment, and I’m also very grateful to Harvey Perlman and Steve Pederson."

Callahan’s original six-year contract, signed in 2004, included an annual compensation of $1.5 million. That contract has now been replaced with a new five-year agreement that calls for compensation of $1.75 million annually. It also includes a potential $425,000 in bonuses on an annual basis. The new contract is retroactive to July 2007.

Callahan, 51, is in his fourth season as head coach at Nebraska, and is in his 30th year overall in the coaching profession.

Last season, Nebraska won its first Big 12 North title since 1999, and Zac Taylor was named the league’s Offensive Player of the Year. Callahan is the only active college head football coach to guide a team to a Super Bowl appearance (the Oakland Raiders in 2002). Nine of his previous 29 seasons were spent in the National Football League.