LOUISVILLE, Ky. (AP) Louisville coach Bobby Petrino has agreed to a new seven-year, $30.625 million contract through 2023 that could pay an annual base salary of $4.375 million if incentives are met.

Athletic director Tom Jurich announced earlier this spring that he would work with Petrino to renogiate his contract. The 55-year-old coach is 58-18 in two stints with the Cardinals. Louisville is 17-9 with two bowl appearances in Petrino's current tenure.

Jurich said Thursday at a news conference that ''Bobby has earned this.''

More from FoxSports

Petrino, who is 100-39 overall as a college coach including stops at Western Kentucky and Arkansas, says he's happy for the long-term deal. The coach added that he's ''very blessed to work with the best athletic director in the country.''