Kansas coach Bill Self has signed an amended five-year contract -- set up to be effectively a lifetime deal -- that makes him the highest-paid coach in college basketball, sources told ESPN.

Self will make more than $13 million in compensation for the 2023-24 season and $53 million over the next five years, sources told ESPN. Kentucky's John Calipari was previously the highest-paid coach in the country; he will earn $44 million over the next five years, sources said.

Kansas announced the new contract Tuesday but did not disclose financial terms.

"Bill Self is undoubtedly the most consistent coach in college basketball, and a restructuring of his contract terms were long overdue," athletic director Travis Goff said. "In an ever-changing collegiate athletics environment, our strong commitment to Coach Self positions KU basketball to maintain and enhance its status as the most storied program in the country. Over his 20 years at KU, our men's basketball program has been a primary source of positive alumni engagement, strong university enrollment, and revenue that has helped fund all other Kansas Athletics programs and invest in all 500 student-athletes every year. With him and his staff at the helm of our basketball program, the future of Kansas Athletics has never been brighter."

The Jayhawks enter the 2023-24 season as the preseason No. 1 team in the country after earning back-to-back 1-seeds and winning the 2022 NCAA tournament.

Self should reach 800 career wins this season and already has two national championships and 20 league titles -- including 13 straight Big 12 championships.

"I am very appreciative to Chancellor [Douglas] Girod, Travis Goff and the entire KU leadership team for their continued belief and confidence in me and my staff to lead this storied program," Self said. "I know the Chancellor and Travis are as excited as I am about the future of Kansas Basketball. There has never been a better time to be a part of our athletic department and this program. My family and I are so proud to be at this university, and I am looking forward to many more seasons representing the most passionate fan base in the country.

"There's no place like Kansas."

The 2017 FBI investigation into college basketball that ensnared Kansas' men's basketball program finally came to a close last month, with Self avoiding any additional punishment and the program avoiding a postseason ban. The independent resolution panel ultimately downgraded five Level I violations into three Level II violations and four Level III violations.

In April 2021, Self signed his initial lifetime contract with the school. It was a five-year contract with an additional year added at the end of every season, with a guaranteed salary of $5.41 million per year. The contract also included a clause that the school cannot fire Self for cause "due to any current infractions matter that involves conduct on or prior to" the signing of the deal.

Kansas opened the season with a 99-56 win over North Carolina Central on Monday and will host Manhattan on Friday.