Nick Saban ?
 

I know he has a clause in his contract that states he gets paid $1 more than any other coach provided he wins a NC (which he has obviously done). What happens if another coach gets the same clause inserted into his contract? What if Pete Carroll had this clause in his deal with USC?

It creates a rift in the time/space continuum and a black hole is formed.

And we're DOOMED.

I am sure it was linked to the BCS national title. If not, it would go on forever and ever. I somehow doubt that was the answer you were looking for.

It would crash the US economy. Leading to violence on an apolcolyptic scale.

Assuming he stays, he'll be getting a new contract anyway. I thinnk I heard $2.5M/year. Stoops is "only" at $2.3M, so he'll be getting a modest raise from what he would have gotten under the current contract.

Two thoughts:

The press is generally pretty terrible at describing contract provisions.

The attorney representing the school should have been tactful enough to prepare for such a situation and put a mechanism in the contract for how to deal with it.

Edit to correct "describing". Also, I agree with KSyrup that there will likely be a new contract in place anyway.