Memphis knows Justin Fuente will be a hot commodity on the coaching market, so the school is doing all it can to keep him.

According to the Commercial Appeal, Memphis offered Fuente a deal that “would have made him the highest-paid football coach outside the Power Five conferences at the time.” Fuente confirmed that he was extended an offer, but would not provide any details about the financial aspect of the contract.

"I was sincerely humbled by the university's offer to step up," Fuente told the paper. "In addition, this administration realizes how important the staff is to me and is trying to step up substantially for our coaching staff."

Memphis athletic director Tom Bowen confirmed the offer, but also declined to provide specific financial details.

“I love coach Fuente and we’ve been working tirelessly to make sure we can keep him,” Bowen told the Appeal. “We made him an extraordinary offer to make sure he’s going to be the coach of the University of Memphis for a very long time.”

Fuente, citing his focus on the current season – the Tigers are currently 8-2 and ranked No. 21 in the College Football Playoff rankings – said he has not responded to the offer, which was reportedly extended before the Tigers beat Ole Miss in October.

From the Appeal:

“My representatives have been in contact since this offer several times with the administration," said Fuente. "We haven't signed it yet, but we're honored to get it.

"I've been incredibly focused on the football program and our kids, and trying to put them in the best position to be successful. Opportunities may come along, and we'll vet those as they come, but we have an incredible amount of sweat equity invested here, our university has made a generous offer to keep our staff here, and when the time comes we'll evaluate all that and try to make the best decision possible.”

Fuente, who is in his fourth season at Memphis, signed a contract extension last November that pays him $1.4 million per year. At a $2.2 million annual salary, Cincinnati’s Tommy Tuberville is currently the highest-paid coach among Group of Five schools.

Earlier this week, Houston’s Board of Regents agreed to offer a raise to Tom Herman, another hot coaching commodity, which would pay him $3 million per year. The offer to Fuente reportedly more lucrative than Herman's.

There are currently 12 head coach openings at the FBS level: Hawaii, Illinois, Louisiana-Monroe, Maryland, Miami, Minnesota, Missouri, North Texas, South Carolina, UCF, USC, and Virginia Tech.

For more Memphis news, TigerSportsReport.com.

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Sam Cooper is a contributor for the Yahoo Sports blogs. Have a tip? Email him or follow him on Twitter!

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