David Woods of the Indianapolis Star reports:

Stevens, 33, who took Butler on a surprising run to the NCAA championship game, was awarded a new 12-year contract by the university Thursday.

Terms of the contract, which extends through the 2021-22 seasons, were not divulged.

It is widely speculated that Stevens’ total package is at least $1 million annually. The Board of Trustees was discussing that amount, perhaps even before Butler reached the Final Four. Stevens’ base salary two years ago was $395,000, and the total package has been estimated at $750,000.

By comparison, Purdue coach Matt Painter recently agreed to a contract worth $1.3 million a year and incentives that could add another $1 million a year. Indiana coach Tom Crean, the state’s highest-paid employee, makes $2.3 million annually.

InsideHoops.com Joke: Stevens will be 24 years old when the new 12-year deal ends in 2022.