Chancellor Kent Hance is confirming that Leach received the formal offer this afternoon. Hopefully, we'll have some closure before the end of the weekend. It looks to be much less than $3 mm per year, from what he hinted at.
I will speculate it's for roughly $12 mm over five years. That would be roughly $2.4mm per year. Seems pretty fair, especially if there are bonuses to push that past $3mm. We'll see how this all shakes out, but feel free to speculate!
http://www.star-telegram.com/college_sports/story/1077262.html