Updated

Louisville, KY (SportsNetwork.com) - Bobby Petrino is coming back to Louisville.

Petrino spent four successful seasons as the Cardinals' head football coach from 2003-06 and will return to the Derby City to replace Charlie Strong, who left to take the vacancy at Texas.

"I'm glad to be home," said Petrino at a Thursday news conference.

Terms of the deal were not disclosed, but the Louisville Courier-Journal reported it to be worth $24.5 million over seven years with a $10 million buyout and a morality clause.

The 52-year-old Petrino spent the 2013 season as the head coach at Western Kentucky after a few years of on-field and off-field issues following his first stay at Louisville.

Petrino was 41-9 at Louisville, then left to try his hand in the NFL with the Atlanta Falcons. He resigned just 13 games into the 2007 season, leaving notes in his players' lockers, and returned to college with Arkansas.

The Razorbacks were 34-17 during Petrino's tenure, which included an 11-2 mark in 2011 that culminated with a victory in the Cotton Bowl. However, things completely unraveled for Petrino the following April when he was fired following a motorcycle accident that ultimately revealed a relationship with former Arkansas volleyball player Jessica Dorrell, who was also a member of the football staff.

After taking a year off from coaching following the dismissal at Arkansas, Petrino took over at Western Kentucky and went 8-4 in his only season with the Hilltoppers.

"I've made mistakes, both personally and professionally," Petrino remarked. "The first mistake was leaving the University of Louisville. I'm just so happy to be back home."

Petrino was also Louisville's offensive coordinator in 1998 and has also been a collegiate assistant at Carroll College, his alma mater, Weber State, Idaho, Arizona State, Nevada, Utah State and Auburn. He was also an assistant with the NFL's Jacksonville Jaguars from 1999-2001.