Saban signs new contract

LSU football coach Nick Saban signed a new contract on Wednesday, LSU athletics director Skip Bertman announced.

Terms and conditions of the contract are subject to approval by the LSU Board of Supervisors, therefore they cannot be released until the next board meeting on March 8.

"I'm happy about the contract," Saban said. "It's nobody's fault that it took this long but sometimes things take time to get worked out. I'm just glad that it's finished. Now we're looking forward to spring practice and to next football season."

Bertman said Saban's contract contains a new deferred compensation plan, which was passed by the LSU Board of Supervisors in December.

"This new employee-friendly deferred compensation plan has many parts to it, all of which are new to LSU since December," Bertman said. "It's taken us some time to get Coach Saban's financial advisors and the University's attorney together so we could put this into a legal document. We're all excited about Coach Saban's new contract. Personally, I'm thrilled that Coach Saban has signed this contract and will remain as head football coach here at LSU."

Bertman added that in order for Coach Saban to get the full benefits of the deferred compensation plan he has to be at LSU through November 30, 2006.

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