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Source: Bobby Petrino to re-up

Updated: December 11, 2010, 7:44 PM ET
ESPN.com news services

Arkansas is close to announcing a seven-year contract extension for coach Bobby Petrino, a source told ESPN's Joe Schad late Friday night.

A source told Schad on Saturday that the deal is worth an average of $3.56 million per year.

Petrino led the Razorbacks to a 10-2 record this season and their first BCS bowl bid. Arkansas will play Ohio State in the Sugar Bowl on Jan. 4. Petrino is 23-14 in three seasons in Fayetteville.

Petrino came to Arkansas after less than a season ...

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