— After 48 hours of speculation, NC State announced late Thursday that Dave Doeren will remain in Raleigh to lead the football program.

Doeren and Director of Athletics Debbie Yow have agreed to a new contract pending approval by the school's Board of Trustees.

“My heart is at NC State, my family and I are truly grateful to Chancellor (Randy) Woodson and Athletic Director Debbie Yow for the opportunity to continue to build on the momentum we have here in Raleigh,” Doeren said in a statement.

“We’re building a championship culture, we have first-class facilities, incredible fan support and I’m honored to continue to lead the Wolfpack.”

Terms of the agreement haven't been released, but sources tell WRAL News that the deal will run through 2022 and pay Doeren about $3 million annually.

Doeren's decision to agree to terms ends the speculation that he might leave for the University of Tennessee.

Yow said in a statement that Doeren has made "significant strides" in developing a complete program in Raleigh, and "this new contract continues our commitment to his leadership."

“We want to support the continued growth of the program under Dave, the culture he has established, the competitive and academic gains he’s helped us achieve, and his continued progress in recruiting," Yow said.

The deal will likely include a salary increase for Doeren and run through 2022. It could end up paying him around $3 million per year and include several performance-based incentives.

The NC State Board of Trustees announced Thursday that the university affairs committee will hold a conference call Friday morning to "establish or instruct the public body's staff concerning the position to be taken by or on behalf of the public body in negotiating the amount of compensation and other material terms of an employment agreement contract or future employment contract."

Friday's teleconference will happen in closed session, officials said.

Doeren and Yow "made progress" on contract negotiations during the second half of the football season, but speculation about his future lingered and got to a boiling point this week when Tennessee attempted to lure Doeren away.

With a deal being finalized, Doeren and his staff will now turn their attention to the Wolfpack's bowl game and recruiting a 2018 class that includes numerous in-state products.

A fall signing period opens in three weeks. It's the first time football has had an early signing period. Many recruits will want to sign and enroll in school early.

Doeren came to Raleigh in 2012 after going 23-4 in two seasons at Northern Illinois.

The Wolfpack have been to bowl games in the last three years and will be learning their postseason destination by the end of the weekend after finishing the regular season 8-4.

Doeren is 33-30 overall in Raleigh and 15-25 in the ACC.

Doeren's decision to remain at North Carolina State continues Tennessee's frustrating search for a coach following the Nov. 12 firing of Jones, who went 34-27 in five seasons.

Volunteers fans unhappy with how new Tennessee athletic director John Currie has conducted this coaching search chanted "Fire Currie" on a handful of occasions Wednesday night during the men's basketball team's victory over Mercer.

A potential agreement between Tennessee and Ohio State defensive coordinator and former Rutgers coach Greg Schiano fell apart Sunday amid a public backlash. Reports over the past few days have linked Oklahoma State's Mike Gundy and Purdue's Jeff Brohm to Tennessee's vacancy, but like Doeren, they have stayed put.