COLLEGE STATION -- Texas A&M Director of Athletics Bill Byrne announced Friday that head men's basketball coach Billy Gillispie has agreed to a new contract.

The deal which runs through 2015 will pay Gillispie $1.75 million dollars a season.

If Gillispie stays through the 2012 season he will receive an extra one million dollars. If he stays through the 2015 season he will pick up another $750,000.

The Texas A&M Board of Regents approved the deal on Friday morning.