Alabama gives Nick Saban a 3-year extension through 2024.

MONTGOMERY, Ala. — Alabama is giving Coach Nick Saban plenty of incentive to stick around — and to sign a contract extension in the first place.

University trustees on Tuesday approved a three-year extension through the 2024 season that could pay Saban at least $65 million over the next eight years. Saban will make $11.125 million this year, counting a $4 million signing bonus and a $400,000 completion bonus.

Saban, 65, who has led Alabama to four national titles in the past seven seasons, said the extension ensures “our time here in Tuscaloosa will continue for many more years.”

Saban, who won the 2003 BCS title at LSU, and Bear Bryant are the only coaches to win five national championships in the AP poll era dating back to 1936. In January, Alabama lost to Clemson in the championship game after winning its fourth SEC title in five years and third consecutive.

Saban will get up to $7.2 million in annual completion bonuses, with half of that due after the 2021 season. His base salary and “talent fee” will be $6.725 million each year, a slight decrease more than made up for through the bonuses.

It was the big-money deal among a number approved Tuesday by the trustees’ compensation committee in a conference call.

Alabama gave Saban an eightyear deal worth $6.9 million annually in 2014. That marked a $1.3 million raise.

Michigan’s Jim Harbaugh is making $7 million a year, including a $2 million annual life insurance premium.

The Tide have won 10 or more games for nine consecutive seasons and made each of the first three College Football Playoffs.