Details of Matt Rhule’s contract with Nebraska revealed

Nov 14, 2021; Glendale, Arizona, USA; Carolina Panthers head coach Matt Rhule (black shirt) reacts during the first half against the Arizona Cardinals at State Farm Stadium. Mandatory Credit: Douglas DeFelice-USA TODAY Sports

Matt Rhule was fired as the head coach of the Carolina Panthers last month, but it did not take him long to land back on his feet. He will be making plenty of money at Nebraska.

Rhule was named the head coach at Nebraska this week. The details of his contract have not yet been made public, but Ian Rapoport of NFL Media reported on Sunday that Rhule is set to earn $72 million over eight years.

Rapoport also noted that Rhule was owed nearly $34 million at the time the Panthers fired him on Oct. 10. One of the reasons Carolina was confident giving Rhule so much money is that his contract included offset language. The Panthers knew it was highly likely Rhule would land a lucrative college coaching deal if they decided to part ways with him.

When Nebraska hired Matt Rhule, they did more than just set up their future — they also offset the vast majority of the $34M the #Panthers still owed him. This was the thought when CAR hired Rhule. If he didn't work out, they would be covered. He'll make $72M over 8 in Nebraska.

— Ian Rapoport (@RapSheet) November 27, 2022

That is exactly what happened. Rhule’s tenure in Carolina was not a success, but none of that mattered to Nebraska. Rhule landed the job with the Panthers after leading a successful turnaround at Baylor. He made a name for himself at Temple prior to that.

Rhule obviously wishes his time with the Panthers went better, but it certainly did not cost him in the long run.