Curt Cignetti contract extension: Paul Finebaum doubles down on heavy criticism of move by Indiana

Curt Cignetti became an even richer man on Thursday. Indiana announced the two parties agreed to a highly lucrative eight-year contract extension that will pay the head coach an average annual salary of $11.6 million moving forward.

The news came after Cignetti led the Hoosiers to a 30–20 road upset of former No. 3 Oregon, with the Indiana head coach subsequently considered among the early frontrunners for the newly created Penn State opening following James Franklin’s midseason firing. Now, he’ll be staying in Bloomington for the foreseeable future.

While some praised Indiana for being proactive in keeping their culture-changing coach, others questioned the timing and magnitude of the deal. ESPN’s Paul Finebaum was among the critics, denouncing the extension on Thursday and chastising Indiana athletic director Scott Dolson.

He expanded on his criticism Friday on First Take: “I think everyone on this panel agrees that he’s done a phenomenal job, but this is how programs get in trouble,” Finebaum said. “They just gave him an extension and a contract raise at the end of last season. We are barely at the midpoint. Let it play out before you completely send the Brinks truck up.

“There are very few generational talents. … I’m still not convinced that Curt Cignetti is one of the top coaches in America. He has coached brilliantly this year, but can’t you let it play out a little bit? He has one big win, maybe one and a half, including the win a couple weeks ago over Illinois. And by the way, because Indiana is going to be in the playoffs, there’s no way he could leave anytime before December or January.

“A couple of years ago, remember Mel Tucker at Michigan State? They gave him a $100 million deal. He went out, lost to Ohio State, and completely imploded after that. James Franklin, same thing. Jimbo Fisher, same thing. All I’m suggesting is take a deep breath, Indiana. Let the season play out a little bit before you mortgage a guaranteed $93 million contract that you may have to figure out a way to pay for down the road.”

Perhaps Finebaum has a point, but the 64-year-old Cignetti’s results speak for themselves. He’s 17–2 in one and a half seasons at Indiana, including a 10–0 start in his inaugural campaign before finishing 11–2 with the program’s first-ever College Football Playoff appearance, which resulted in a 27–17 loss to eventual national runner-up Notre Dame.

Still, Finebaum believes Indiana may regret the extension down the line: “I’ve just seen this movie too many times,” he said. “A couple of years from now, this program may hit a speed bump, and Indiana — which is a basketball school — will be asking itself how to deal with something less than spectacular. … Why make irrational decisions in October when the same call could have been made later with a better sample size?”

All told, Cignetti’s rise has been meteoric, and Indiana’s faith in him is clear. Whether that investment proves to be the right decision or another costly cautionary tale will depend on how long the Hoosiers can sustain their breakthrough success under his leadership, and Finebaum will be watching with a keen eye the whole time.

— On3’s Alex Byington contributed to this article.