Arkansas Football: Did Bret Bielema Really Deserve a Contract Extension?

In two seasons as a head coach in the SEC, one head coach has posted a 10-15 overall record and a 2-14 record within the conference and has finished last in his division in both seasons.
That coach just got a raise that pays him more than $4 million annually and an extension through 2020.
Sounds crazy, right?
Crazy like a Hog.
Those are the parameters for head coach Bret Bielema's extension with Arkansas, which was announced by the school on Saturday. The raise and extension pay him $4 million in 2015 and give him a $100,000-per-year raise for the life of the contract.
Vice Chancellor and Director of Athletics Jeff Long commented on the news in the release:
Coach Bret Bielema is not only one of the best college football coaches in the nation, he is an outstanding leader. What Coach Bielema and his coaching staff have done for our young men, on and off the field, is something that has dramatically changed the course of our program and most importantly positively impacted the lives of our football student-athletes. He is building a championship program in a way that all Arkansans can be proud of.
Basically, Bielema has been rewarded for bringing stability to an Arkansas program that's been without it for quite some time. He's also being rewarded for a couple of hot months of football in November and December that saw his Razorbacks shut out LSU and Ole Miss and then follow it up by giving up a lob wedge worth of offense (59 yards) in a win over Texas in the AdvoCare V100 Texas Bowl.
What's even crazier is that it was the right thing for Long and Arkansas to do.

Bielema's new contract brings him to around the same compensation as Georgia's Mark Richt, who agreed to an extension shortly after the season. It places him behind Alabama's Nick Saban, Texas A&M's Kevin Sumlin, LSU's Les Miles and South Carolina's Steve Spurrier, according to the USA Today coaching salary database.
As Joel A. Erickson of AL.com notes, it also places him behind Auburn head coach Gus Malzahn for now:
It's a little bit premature to put Bielema in that kind of company after only two seasons that were, for the most part, a struggle, save for a hot November and December in 2014.
Will it be premature for long, though?
Arkansas was picked fourth in the nation in Sporting News' way-too-early 2015 national rankings and 17th in B/R National Lead Writer Ben Kercheval's early 2015 top 25, which was released after national signing day.

If Arkansas begins to live up to that hype next season and is dancing around the top 15 in mid-October, it'll be abundantly clear that, despite some significant roster turnover on the defensive side of the ball, Bielema has the Hogs taking another big step forward.
At that point, his compensation and extension will be well worth it, and he could be considered a bargain if he does move into the legitimate discussion for a College Football Playoff berth.
Even if he doesn't, though, Long has kicked the stability can farther down the road.
The Bobby Petrino-John L. Smith fiasco sent the program spiraling into a pit of despair, and Bielema helped bring it out. By committing to Bielema long term, Long has further stabilized the program and brought hope to Fayetteville for the first time since Petrino's ill-fated motorcycle ride.
Bielema has earned this raise and extension, and Long should be commended for being proactive and making the head coach of the Hogs happy before his price gets even steeper.
Barrett Sallee is the lead SEC college football writer and video analyst for Bleacher Report, as well as a host on Bleacher Report Radio on Sirius 93, XM 208.
Quotes were obtained firsthand unless otherwise noted. All stats are courtesy of cfbstats.com unless otherwise noted, and all recruiting information is courtesy of 247Sports' composite rankings. Follow Barrett on Twitter @BarrettSallee.