It's payday for Eli Drinkwitz.

The Missouri football coach earned a contract extension through 2028, the team announced on Jan. 1. His new deal is set to pay him $46 million, the Columbia Daily Tribune learned through an open records request received Monday morning.

Drinkwitz will earn $9 million in 2024 before bonuses. He will earn an additional $250,000 beginning in 2026, and in the final year of his contract — 2028 — the coach is due to earn $9.5 million.

That’s a significant leap from Drinkwitz’s previous deal, which had him set to earn $6.25 million after the 2024 season and $7 million in the final year as his contract was due to expire after the 2027 campaign.

The structure of Drinkwitz’s current deal makes him the tied-for-fourth highest-paid coach in the SEC, behind Alabama’s Nick Saban, Georgia’s Kirby Smart and LSU’s Brian Kelly.

He is set to earn the same amount as Ole Miss’ Lane Kiffin, Tennessee’s Josh Heupel and Kentucky’s Mark Stoops in terms of compensation from their respective universities.

The contract breaks down Drinkwitz’s pay as $450,000 in base salary in 2024, as well as four separate payments of $2,137,500 for arrangements such as, but not limited to, television appearances, radio shows and appearances before alumni groups and boosters.

The contract obtained in the open records request says Drinkwitz’s new deal was entered and made effective Dec. 1, 2023.

Drinkwitz, as was the case in his previous deal, will be owed 75% of his remaining pay should the university fire him without cause. That number currently stands at $34.5 million.

If Drinkwitz leaves Missouri for another job before Dec. 1, 2025, he owes the university $5 million. That decreases to $4 million until Dec. 1, 2027; to $3 million until Dec. 1, 2028; and to $1 million to Jan. 15, 2029.

The Missouri coach’s bonus for earning a conference coach of the year award doubled to $50,000. Some other bonuses were restructured as well to accommodate the changing landscape of the College Football Playoff.

A first-round CFP appearance now earns Drinkwitz $250,000. If he makes the quarterfinals, he’ll earn another $300,000, and a semifinal berth is worth $450,000. Should Missouri make the national title game, Drinkwitz will earn $600,000. Win it all, and the Tigers coach makes $750,000.

The Tigers went 11-2 in the 2023 season and defeated Ohio State in the Cotton Bowl. Drinkwitz had failed to record a winning season in his previous three years as Missouri's coach.

Missouri is currently No. 9 in the CFP poll, which would be good for a playoff berth next season when the playoffs are set to expand to 12 teams.

This article originally appeared on Columbia Daily Tribune: Missouri football's Eli Drinkwitz receives raise: Here are the details