After over a week of speculation that Chad Morris could be heading off to Baylor to take over as head football coach, SMU's head football coach has decided to remain at SMU and informed his team on Tuesday that he planned to sign an extension, sources confirmed with Pony Stampede. On Wednesday, Morris made it official by agreeing to that extension, SMU announced.

SMU & @CoachChadMorris have agreed to a contract extension through the 2023 season... Full release later tonight... #PonyUpTempo

— #PonyUpTempo (@SMU_Football) November 30, 2016

Morris agreed to an extension through 2023 with a larger pool for assistant salaries and a pay bump. Sources did not disclose the exact monetary details as those are still being ironed out. The deal also includes assurances that SMU will have its Indoor Performance Center broken ground on in a certain time frame, something Morris lobbied for as soon as he touched down in Dallas in December 2014.

Morris signed a 6-year, $2 million a year deal in when he took over on December 1, 2014 to become SMU's head coach. This deal is expected to raise that yearly salary and include performance incentives.

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In Morris' second season, the Mustangs knocked off then No. 11 Houston 38-16 in Dallas to land his first signature win as head coach of the Mustangs.

The former Clemson offensive coordinator has lead SMU to improvement in each of his two seasons. The team went from one win under June Jones and interim coach Tom Mason in 2014 to two wins while leading the nation's biggest improvement in total offense in the country in 2015. In 2016, the Mustangs improved on that, going from two wins to five and falling short of becoming bowl eligible after a 75-31 loss to Navy on Saturday.

Morris, who is 7-17 in two seasons at SMU, was the rumored choice for Baylor to replace Art Briles and take over following interim coach Jim Grobe's only season at the helm in Waco, Texas.

The SMU staff had been out on the recruiting trail again this week and momentum picked up on rumors that Morris was staying on Monday. SMU flipped a commitment from two-star offensive tackle Hayden Howerton on Tuesday from Rice, which was an early confirmation that Morris planned to stay.

Stay tuned for more on Pony Stampede as we monitor this breaking news.