Update: IU has announced the deal, more than doubling Allen's salary to an average of $3.9 million a year.
"When I hired Tom to be our head football coach I said I was doing so because he is a leader of men who is demanding without being demeaning, and a proven, successful coach on a national scale with deep Indiana ties who cares about his players, and they care back," said AD Fred Glass. "In his three seasons he has proven to be all of that and more which is why I believe the future of Indiana Football is in great hands. I thank Tom and his team for their transparent, good-faith approach to these conversations, as well as President McRobbie without whose counsel and support this would not have been possible."
"I am humbled and thankful that President McRobbie and Mr. Glass continue to believe in our staff and the winning culture that we are creating," Allen said. "I love our staff and appreciate their tireless efforts as we continue to build this program into a winner, the right way. Thank you to Indiana University, our fans, the Bloomington community and all of Hoosier Nation for their support. I am so appreciative of the young men who represent IU in such a first-class manner. We have a tremendous group of players, I am proud to be their head coach, and I am 100-percent committed to their success on the field, in the classroom and in life. It's no secret Indiana University is a special place to me. I was born a Hoosier, raised a Hoosier and I am thrilled with the opportunity to remain a Hoosier for a long, long time to come."
Indiana will announce a new 7-year contract for head coach Tom Allen on Friday, sources told FootballScoop.
Allen drew serious interest from Arkansas, but the coach elected to stay in Bloomington with increased commitment from IU, sources say.
Allen is 18-19 in three seasons as the Hoosiers' coach. He led the club to an 8-4 mark this fall, the club's best in 26 years, while ending IU's 25-year absence in the AP poll along the way.
Allen's current salary of $1.805 million is the lowest in the Big Ten. The new deal will represent a significant upgrade from that mark.
As always, stay tuned to The Scoop for the latest.