University Park, PA -- (Sports Network) - Legendary Penn State head coach Joe Paterno will continue to prowl the sidelines for the Nittany Lions, although it's unclear for how long, as the school retained his services with an extension through the 2011 season but with a clause that allows for the contract to be altered.

University president Graham Spanier and athletic director Tim Curley announced the extension Tuesday, stating that the deal includes an agreement "that the parties might re-evaluate their circumstances and alter the arrangement by either shortening or extending its length as necessary."

Paterno earlier stated he planned on returning to Penn State in 2009 after the Nittany Lions' regular season finale, a 49-18 victory over Michigan State that clinched a trip to a BCS Bowl game -- that being the Rose Bowl where Penn State will take on Pac-10 champions USC on January 1.

Paterno, who will turn 82 on December 21, has served as the Nittany Lions' head coach for the last 43 seasons, his first being in 1966 when he replaced Rip Engle. His tenure is the longest of any coach at a single university in college football history.

He currently holds the record for most wins in FBS history, as his record stands at 383-126-3, and also holds the record for most bowl wins in FBS history, going 23-10-1 in postseason play during his coaching career.

"I'm planning on coming back (in 2009); I never planned otherwise," Paterno stated following the win over MSU. "When I talk to high school kids I (want to) be honest with them because I have no plans to leave."

In his time with Penn State, Paterno has led the school to two national titles, in 1982 and 1986, and five undefeated seasons, in 1994, 1986, 1973, 1969 and 1968.

The school joined the Big Ten conference in 1993, and Paterno has won at least a share of three conference titles -- 1994, 2005 and 2008. Paterno is the only coach in history to win each of the four major bowls -- Rose, Orange, Fiesta and Sugar -- as well as the Cotton Bowl at least once.

In 2006, Paterno was elected to the College Football Hall of Fame, as the National Football Foundation changed its rules to allow coaches who are 75 years of age or older to be elected without first retiring. He has been named the Walter Camp Coach of the Year three times, in 1972, 1994 and 2005. He is the first college football coach to be named "Sportsman of the Year" by Sports Illustrated, receiving the distinction after the 1986 championship season.

For many years reporters have questioned Paterno on numerous occasions about his retirement, and the coach always insisted that he had not thought about leaving the school and often seemed agitated by the questions.

The Brooklyn native has contributed millions of dollars to the school, as Penn State's library bears the name of its football coach. His teams have often had high graduation rates, with the 2008 team recording a 78 percent four-year graduation rate which exceeds the 67 percent Division I average. That number is second among AP Top 25 teams to Texas Tech and is second in the Big Ten to Northwestern.

Paterno's teams have finished in the top-10 of the Associated Press Poll 20 times in his coaching career and have a chance to finish that way in 2008. His 2008 team, which is currently 11-1, posted a 7-1 mark in the Big Ten, clinching a share of the Big Ten title with Ohio State.

Paterno has appeared in the Rose Bowl only once before, winning a 38-20 battle with Oregon to cap off the undefeated 1994 campaign.

Despite his success, Paterno will be making only his second appearance in a major bowl since the Bowl Championship Series was created in 1998 -- the Orange Bowl in 2005, a 26-23 victory over Florida State.

He has coached only five teams with losing records, with four of those coming in a five-year period from 2000-2004 that had many critics calling for him to step down. His other losing season was in 1988, but since a 4-7 season in 2004, Paterno has gone 42-10, including a 3-0 mark in bowl games.

Paterno, who graduated Brown University in 1950, still holds the school's record for most career interceptions. He joined Penn State that year as an assistant coach under Engle.

The octogenarian has been battling hip problems for most of the season and underwent hip replacement surgery following the regular season. He has coached much of the 2008 season from the press box and has been seen walking with a cane.