Arkansas is close to announcing a seven-year contract extension for coach Bobby Petrino, a source told ESPN's Joe Schad late Friday night. Petrino led the Razorbacks to a 10-2 record this season and their first BCS bowl bid. Arkansas will play Ohio State in the Sugar Bowl on Jan. 4. Petrino is 23-14 in three seasons in Fayetteville. Petrino came to Arkansas after less than a season with the Atlanta Falcons. He spent 2003-06 coaching Louisville. Read more: http://sports.espn.go.com/ncf/news/story?id=5908075
