Penn State’s search for a new head coach after the firing of James Franklin was headline news. And one of the hottest names in the mix was Curt Cignetti. Cignetti took an overlooked program, in the Hoosiers, to the brink of a College Football Playoff appearance with a stellar 17-2 record over 19 games and an impressive 11-1 Big Ten record. But before things could move forward, the Hoosiers quickly pulled the brakes. AD Scott Dolson produced a shiny new contract for the Indian HC. The contract was a game-changing $92.8 million, eight-year extension locking Cignetti through 2033 with an average $11.6 million per year.

With a figure like that, Cignetti stands as the third-highest-paid coach in the country behind only Georgia’s Kirby Smart and Ohio State’s Ryan Day. It was a massive leap from his original $4 million package in 2024 and an increase from the $72 million through 2032 deal he signed after Indiana’s 10-0 start last season. But the announcement wasn’t all smooth sailing, as it raised questions coming from ESPN-owned ACC Network’s Eric McLain. “I think the Cignetti stuff was ludicrous,” McLain said on the 93.9 The Ville podcast.

“The fact that you make that guy the third-highest-paid coach in all of college football and he’s never won a Power four postseason game is insane to me at this point. I get you want to keep them, I get you want to show that commitment, but man, that’s a lot of dollars to get invited to the party at the end of the day and lose in the first round.” Before his Indiana days, Cignetti made a habit of taking smaller programs like James Madison and Elon to the playoffs. But those were not Power Four conferences. He was hired after Tom Allen left with a disappointing 33-49 record over seven seasons. 

Cignetti’s transition of James Madison from FCS to FBS was seamless, even with NCAA postseason restrictions during the move. And Scott Dolson came clean about that move, saying, “We had a very talented and deep pool of candidates, and Curt stood out thanks to an incredible track record of success over more than four decades in college football.” But Cignetti’s first year with the Hoosiers wasn’t so elite. Sure, the Hoosiers completed an 11-1 overall record and entered the playoffs last year. But the momentum took a hit against Ohio State, who defeated the Hoosiers 38-15. The season ended with them having 2 losses. Now that’s good, no doubt, but not $93M good.

Cignetti’s new deal has him earning comfortably more than USC’s Lincoln Riley and Clemson’s Dabo Swinney. Now, Riley never won a National Championship with the Trojans, but Dabo Swinney did. Swinney has forged one of college football’s most respected and successful dynasties, with an overall record of 183-51. He even secured a massive 10-year, $115 million contract extension in 2022, reflecting the faith the university has in his leadership. Sure, he is running through some tough water right now with the Tigers, but it doesn’t erase his past triumphs.

The problem is that Curt Cignetti hasn’t really proved himself at a powerhouse program. But he is definitely having a start as Indiana is cruising with a clean 7-0 record this season. Plus, he led the Hoosiers to their first-ever 10-win season and their first Top 10 finish in either major poll since 1967.

Meanwhile, Paul Finebaum wasn’t about to stay shut after Curt Cignetti’s contract extension.

The Paul Finebaum verdict

Paul Finebaum sees this aggressive move as a high-stakes gamble by Indiana. And especially given how fast college football’s coaching carousel is spinning these days. “All it takes is a coaching firing to get athletic directors doing what they do best– spend somebody else’s money. Curt Cignetti, who was considered a favorite for the Penn State job, has just agreed to a brand-new deal at Indiana…” Finebaum said.

“Truly remarkable when you think about it. Until Saturday, a lot of people were really not sure exactly what the Indiana program was all about. But you beat Oregon on the road, and it looks like you’re going back to the Playoffs.” Finebaum didn’t pull punches. He compared it to when Michigan State gave Mel Tucker a $95 million contract a few years ago to keep him from leaving. The result? Heaps of scandals and poor results.

But let’s not worry because Cignetti’s coaching record far outshines Tucker’s at the time of their respective extensions. The underlying concern? Indiana is locking up Cignetti after just 17 wins, which, in the grand scope of elite coaching careers, feels premature to some. Plus, his record his impressive. He owns a 136-37 career record as a college head coach and is 36-6 in top-tier FBS football.