It was only a matter of when, not if, Tom Coughlin's contract extension would be announced.

The answer: today.

The Giants have extended their head coach of eight seasons through the 2014 season. Coughlin, who has guided the Giants to two Super Bowl titles, will be paid $20 million over the next three seasons as part of the new deal, according to someone informed of the contract details. (The financials were first reported by the Daily News.) The person requested anonymity because the numbers weren't to be discussed publicly.

"It has always been my belief that it is an honor and a privilege to be the head coach of the New York Giants," Coughlin said in a press release announcing the new deal. "I'm thankful to John Mara and Steve Tisch and their families for their support and the recognition of what our players and coaches have accomplished. And I'm grateful for the working relationship Jerry Reese and I have. We've got a lot of work left to do."

Coughlin, who turns 66 on Aug. 31 and hasn't publicly entertained thoughts of retirement, was signed for this upcoming season, but the second Super Bowl victory over the New England Patriots in four years ensured he'd receive an extended deal. In 2008, the Giants gave him a four-year, $21-million deal.

It's believed Bill Belichick is now the highest-paid coach in the NFL at $7.5 million per season. Coughlin, once on the verge of being fired in 2006, is now being lauded as one of the best coaches in the league.

“I wanted Tom as our head coach going all the way back to the early ‘90s,” Mara said, “so it was with great confidence that Ernie Accorsi and I recommended to my father and Bob Tisch in 2004 that we hire Tom. Of course, my father didn’t need to be convinced. He saw what we have all seen, a man who has a singular focus and incredible dedication when it comes to his work. In so many ways, Tom represents to me who and what the head coach of our franchise should be.”

Coughlin is 74-54 in the regular season during his tenure with the Giants. His eight postseason victories are tied with Bill Parcells for most in franchise history.

"Tom is the right person in the right job at the right time,” Steve Tisch said. “I just really appreciate how our players respond to his leadership, and obviously our organization has benefitted tremendously because of the relationship Tom has with his players.”

Said Reese: “Tom is a winner and he’s a fighter. And I enjoy and appreciate working with him. From where I sit, I couldn’t ask for more in a head coach.”

Mike Garafolo: mgarafolo@starledger.com