Alabama head coach Nick Saban is set to become the highest paid football coach at a public university, expected to earn just over $5.3 million for the 2012 season.

“We are very fortunate to have, without a doubt, the best head coach in college football,” Athletic Director Mal Moore said in a statement. “He has consistently assembled the best staff in America. Rewarding excellence is a key factor in our ability to maintain a program that is widely regarded as the nation’s finest.”

The University of Alabama’s Board of Trustees Compensation Committee voted unanimously Monday to extend Saban’s contract through the 2019 season. The total compensation of the deal is just over $45 million, not including incentive bonuses.

“The acceptance of this extension expresses mine, Terry’s and our families commitment to the University of Alabama for the rest of our career,” Saban said.

The deal comes on the heels of Saban winning his second national championship in three years for the Crimson Tide. Saban said he was not involved in contract negotiations and that the deal was essentially done after the title game.

Saban also said other teams expressed interest but would not provide names stating, “That doesn’t matter because we wanted to stay at Alabama, and we are not interested in going any place else.”

For 2012, the deal involves an increase of more than $630,000 over what he was paid by the school for the 2011 season. It is an increase of a little more than $550,000 over what he was scheduled to make in 2012.

Saban is guaranteed a $50,000 increase for 2013 and then $100,000 increases each subsequent year, reaching just under $6 million for the 2019 season.

Since arriving at the University, Saban has rebuilt the program and turned it into a consistent national championship contender. During his five-year stint, Saban has delivered two national championships, the school’s first Heisman trophy and a Southeastern Conference championship. The Alabama athletic department ranks No. 1 among all universities in revenue, due in large part to the football team and Saban’s presence. Radio host Paul Finebaum said despite the near $6 million salary, Saban is still underpaid.

“Frankly, I think Alabama should give Nick Saban a lifetime contract and fill in the blank,” Finebaum said. “There is simply not enough money, and you can’t come up with a number that justifies his impact.”

Saban was not the only coach who benefited with an extension. Defensive coordinator Kirby Smart’s contract was extended three years, with his salary rising from $850,000 to $950,000. New offensive coordinator Doug Nussmeier received a three-year deal worth $590,000 per year.

Every field assistant except for Jeff Stoutland received some sort of raise. Stoutland was the offensive line coach at the University of Miami from 2007 to 2010 and is linked to recent scandal regarding recruiting violations at the school. However, when asked whether the incident had anything to do with him not receiving a raise, Saban indicated that it did.

“As a university, we make decisions to do things because it is the right thing to do,” he said. “In the future, I think Jeff Stoutland deserves to get a raise based on the merit of the work he’s done here. I also don’t think it would be smart on our part to ignore things that have happened in the past, so it is what it is.”