The financial terms of the deal were not revealed due to TCU being a private school. The only thing that is known about Patterson's contract is that he made $3.94 million in 2015.
Patterson last received an extension following the 2014 campaign, right after leading TCU to their first Big 12 title. This came in the school's third season in the conference, which quickly made the coach a hero to their fan base. The next April, a statue of Patterson was built on the school's campus, showing the support of the team's head coach. Multiple extensions since then shows support of Patterson from within the school's front office.