Alabama football coach Nick Saban is staying put.

The university announced on its Twitter account Friday night that the football coach has reached "a long-term agreement" to remain with the Crimson Tide.

Alabama didn't release terms of the new deal, which must be approved by the board of trustees.

Saban received an eight-year deal in March 2012 worth about $5.6 million annually and seems likely to remain college football's highest-paid coach.

The agreement quells speculation that Saban would take over at Texas if Mack Brown steps down. Saban, who turned 62 on Oct. 31, has led the Tide to three national championships in the last four years with no signs of fading from annual contention.

The third-ranked Tide was on the verge of another Southeastern Conference, and perhaps national title, before losing, 34-28, to No. 2 Auburn in the regular-season finale on a last-play 109-yard return of a missed field goal.

Alabama will play Oklahoma in the Sugar Bowl on Jan. 2 in New Orleans.

Saban has said multiple times that he's too old "to go someplace else and start over."

"I'm very committed to the University of Alabama, love being here," he said in November.