Clemson is rewarding football coach Dabo Swinney with a 10-year, $115 million contract extension, according to Sports Illustrated’s Ross Dellenger.

The new pact represents the richest deal in college football history in terms of total compensation, supplanting the $112.5 million contract Georgia’s Kirby Smart signed in July. It also places Swinney second nationally in salary among college football coaches, as measured by average annual value, behind only Nick Saban of Alabama.

The Clemson Board of Trustees approved Swinney’s new pact Thursday morning, securing the services of the school’s longtime coach for the foreseeable future. Swinney initially took over as head coach at Clemson in an interim role from Tommy Bowden during the 2008 season. He officially was promoted to the head coaching role following the 2008 regular season.

Since then, all Swinney has done is become the most successful football coach in school history. He boasts a 151–36 career record (.807) with two College Football Playoff national championships. Swinney is 7–1 in ACC Championship Games and 11–7 in postseason bowl games.

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“It is hard for me to believe I am in my 14th full season as your head coach, and I remain eternally grateful and honored for the opportunity to continue coaching and developing young people of excellence at Clemson.” Swinney said in a statement. “This agreement is representative of what has been collectively built here and the success we’ve had both academically and athletically. It is a reflection of the ALL IN commitment of so many people, including our players, our staff, our fans, our administration and our University leadership. While I am certainly proud of our accomplishments on the field, the most rewarding part remains the relationships forged within this program and the ability to positively impact those around us.”

The new pact, which runs through the 2031 season, will pay Swinney an average of $11.5 million annually. Only Saban, who signed a contract extension in August, earns more at $11.7 million per year. Smart ranks third at $11.25 million annually.

Swinney, 52, trails only Frank Howard in career wins at Clemson. Howard won 165 games with the Tigers, but he amassed that total over 30 seasons (1940–69). Swinney could equal that total as soon as late this season, his 15th as head coach of the Tigers, if Clemson wins the CFP national championship game.

Swinney originally came to Clemson as wide receivers coach in 2003 under Bowden. He added the title of assistant head coach in ’07 and ultimately took over for Bowden after the Tigers started 3–3 in ’08.

“I am appreciative of the support from the Board of Trustees to President Clements to ensure we can continue to build on a firm foundation, as Clemson football and Coach Swinney’s leadership are a key driver for our university,” Clemson athletic director Graham Neff said in a statement. “Coach Swinney and his family’s impact on our community and department cannot be understated, and his success and stability nationally is truly uncommon. It is critical that Clemson continue to invest in our football program, and ensure our head coach is at Clemson for a long, long time. The best is yet to come.”

This year’s Clemson team, ranked No. 4 nationally in the coaches poll and No. 5 in the AP poll, opened with a 41–10 win over Georgia Tech in Atlanta on Monday night and plays host to FCS member Furman on Saturday.