According to a report by 247Sports’ Brandon Marcello, Gus Malzahn signed a new deal to stay at Auburn.

The website reports that Malzahn could receive a raise to as much as $7 million per season for five years.

Malzahn was being courted by the Arkansas Razorbacks with reports that he wanted a $50 million contract over seven years, but it appears that Auburn has either matched or come close to matching the price.

RELATED: Arkansas shifting its focus after Malzahn news

Following the Tigers’ SEC Championship Game loss to Georgia, speculation started to swirl that Malzahn could bolt to Arkansas and that the Hogs were gearing up for a big-time offer.

Arkansas reportedly wanted a decision from Malzahn by the end of Sunday, and this certainly fits within that timeline.

Honestly, Malzahn staying at Auburn is somewhat surprising. Many thought he would leave for Arkansas, a state in which he has deep ties. But he has a very good team returning in 2018 at Auburn, and the Tigers should contend for another SEC Championship.

During his Auburn career, Malzahn is 45-21 overall with one SEC title.

Saturday Down South will update this breaking news article.