Ole Miss head football coach Lane Kiffin has decided against jumping on the latest coaching carousel.

The university announced it agreed to a new contract with Kiffin, who has led the No. 8 Rebels to a 10-2 record. Per ESPN's Chris Low and Harry Lyles Jr., Kiffin's annual salary will be in the $7.5 million range.

Reports previously connected Kiffin to the University of Miami, with Andy Slater of Fox Sports 640 South Florida notably stating in November that the 46-year-old would leave for South Florida if the Hurricanes' job opened up.

Kiffin is staying in Oxford, however, as Ole Miss appears headed for a New Year's Six bowl amid one of the best seasons in school history.