Toledo's athletic director says the school has offered coach Matt Campbell a contract that would make him the highest-paid coach in the Mid-American Conference.
The offer comes as Campbell is being wooed by other schools. Multiple media reports have said Iowa State is targeting the 35-year-old coach. Campbell is 35-15 in four seasons with Toledo.
Athletic director Mike O'Brien said in a text message Saturday there is an offer on the table to Campbell that would boost his current salary of $495,000 per year. O'Brien would not specify the amount of the offer.
"We think very highly of Matt Campbell and have made him a very generous offer to keep him as our head football coach," O'Brien said.
Western Michigan coach P.J. Fleck's salary is $800,000 this season, highest in the MAC, according to USA Today's salary database.
Iowa State paid former coach Paul Rhoads, who was fired last week, $2.2 million this year.
There are 12 head-coaching vacancies in FBS and more expected. Campbell figures to be in the running for several of them.
Toledo completed a 9-2 season that included wins over Arkansas and Iowa State, but a loss to Western Michigan on Friday will keep the Rockets out of the MAC championship game. Not having to prepare for a title game leaves Campbell free to meet with potential suitors sooner than other candidates that still have games to coach.