The New York Giants rewarded coach Tom Coughlin for his second Super Bowl victory with a contract extension that will keep him signed through 2014.
The extension was expected after Coughlin guided the Giants to their second Super Bowl title since the 2007 season. Coughlin's contract was set to expire after this season.
The team did not announce terms, but a source confirmed that Coughlin's deal begins immediately and is actually a three-year contract worth $20 million. The deal makes Coughlin one of the highest-paid coaches in the league.
The New York Daily News reported the terms of the deal earlier Wednesday.
"It has always been my belief that it is an honor and a privilege to be the head coach of the New York Giants," Coughlin said in a statement released by the team. "I'm thankful to [co-owners] John Mara and Steve Tisch and their families for their support and the recognition of what our players and coaches have accomplished. And I'm grateful for the working relationship [general manager] Jerry Reese and I have. We've got a lot of work left to do."
Coughlin, 65, is entering his ninth season with the Giants. He has a 142-114 (.557) career regular-season record in 16 seasons as a coach with the Giants and Jacksonville Jaguars. His postseason record is 12-7 (.632) and his 142 regular-season victories are tied with the St. Louis Rams' Jeff Fisher for 19th all-time.
"I wanted Tom as our head coach going all the way back to the early '90s," Mara said. "So it was with great confidence that Ernie Accorsi and I recommended to my father and Bob Tisch in 2004 that we hire Tom. Of course, my father didn't need to be convinced. He saw what we have all seen, a man who has a singular focus and incredible dedication when it comes to his work. In so many ways, Tom represents to me who and what the head coach of our franchise should be."
Tisch credited Coughlin with turning the team around last season, when the Giants had to win their last two games of the season to win the NFC East and make the playoffs. The Giants won their last six games overall, including four postseason games, to win the Super Bowl.
"Tom is the right person in the right job at the right time," Tisch said. "I just really appreciate how our players respond to his leadership, and obviously our organization has benefitted tremendously because of the relationship Tom has with his players."
Coughlin is third in Giants franchise history with 74 regular-season wins, and he is tied with Bill Parcells with a franchise-record eight playoff wins. He has led the Giants to two NFC East crowns and five postseason berths during his New York tenure.
"Tom is a winner and he's a fighter," Reese said. "And I enjoy and appreciate working with him. From where I sit, I couldn't ask for more in a head coach."