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Matt Rhule has agreed to a two-year contract extension with Nebraska that takes his contract with the Cornhuskers through 2032, sources confirmed to CBS Sports' Matt Zenitz and Richard Johnson. Rhule was expected to be one of the leading candidates for the Penn State job -- he played linebacker for the Nittany Lions from 1994-1997 -- but instead he joins Indiana's Curt Cignetti in inking an extension that will take him out of the running for the vacancy in State College. Rhule's new contract reportedly includes a $15 million buyout on his end if he were to leave prior to the 2026 season, which effectively takes him off of the market for Penn State or any other open jobs. Nebraska is 18-15 overall since Rhule arrived in Lincoln and are currently 6-2 on the season. Rhule's Huskers will be looking for their first win over a ranked opponent since he took the job this Saturday when they host No. 23 USC. CBS Sports will have more on this breaking news shortly.
