Sources: SMU, Lashlee nearing lucrative new deal

SMU and coach Rhett Lashlee are finalizing a new seven-year contract through the 2032 season, sources confirmed to ESPN.

The new agreement, which extends Lashlee's current deal by two seasons, is expected to place him among the 10 highest-paid coaches in college football, according to sources.

The deal likely will ensure Lashlee returns to SMU in 2026. He had been mentioned as a potential candidate for the coach opening at Arkansas, his alma mater, as well as other vacancies in the South and Southeast. In November 2024, he agreed to a contract extension with SMU through 2030.

Lashlee guided SMU to the College Football Playoff last season in the team's first season as an ACC member. He's 34-15 at the school with an American Conference title in 2023 and an ACC runner-up finish last season.

Lashlee, 42, had been an offensive coordinator at Miami, SMU, UConn, Auburn and Samford, before replacing Sonny Dykes as the Mustangs' head coach. SMU made significant financial commitments to enter the ACC and remain a CFP contender.

SMU hosts No. 10 Miami Hurricanes on Saturday for its homecoming game.

Yahoo first reported the expected agreement between SMU and Lashlee.