Lane Kiffin is getting some major bucks to remain in Oxford. The Ole Miss coach was rumored to be headed to Auburn, but instead is inking a massive extension, according to Sports Illustrated’s Ross Dellenger.

The new contract is for at least 8 years and will average $9 million a year. An interesting tidbit is the length of the deal, because of the state of Mississippi’s rule about public employees not being permitted to have contract over 4 years.

The contract is being finalized by Ole Miss’ private foundation.

Auburn also had interest in a former NFL coach and is reportedly now zeroing in on Liberty’s Hugh Freeze.

Kiffin is in his 3rd season as Ole Miss’ head coach. No. 20 Ole Miss has an 8-4 overall record after dropping a 24-22 loss vs. in-state rival Mississippi State in the Egg Bowl. Kiffin led Ole Miss to a 10-3 record and a spot in the Sugar Bowl  last season.

In his last stint, Kiffin sparked Florida Atlantic with 2 Conference USA championships in his 3 years. The longest Kiffin has remained as a head coach at any program was 4 seasons at USC (2010-13). Kiffin also previously was the head coach at Tennessee and the NFL’s then-Oakland Raiders.

Ole Miss will await its bowl destination and attempt to snap a 3-game losing streak.