Nebraska signed head coach Matt Rhule to a two-year extension that keeps him under contract through the 2032 season, the head coach confirmed Thursday on "The Pat McAfee Show."

The deal includes a $15-million buyout this year, effectively eliminating him from any jobs in this coaching cycle, according to ESPN's Pete Thamel. There have been rumors linking Rhule to coaching vacancies around college football, including his alma mater, Penn State, after the school fired James Franklin earlier in October.

"We love it here," Rhule told McAfee. "There's lots of great jobs, but very rarely in this business do you find a home. We felt like Nebraska is our home. This program is our home. I love these players."

Rhule has been with Nebraska since signing a reported eight-year, $74-million contract in November 2022. The new deal doesn't include a change in his current contract's average annual salary, Thamel adds.

Before joining Nebraska, the 50-year-old served as the Carolina Panthers' head coach from 2020-22 and spent the three prior seasons as Baylor's head coach.

Rhule holds an 18-15 record with the Cornhuskers, who are 6-2 this year, including 3-2 against the Big Ten. He led them to a bowl appearance last season for the first time since 2016.

Nebraska will face USC on Saturday.