John Fox may have come up short in Super Bowl XLVIII, but it appears he'll get at least three more cracks at winning a Lombardi Trophy from the Broncos' sideline.

The Denver coach has agreed to a new three-year contract Friday, a team source informed NFL Media Insider Ian Rapoport. Fox Sports' Jay Glazer first reported the news.

It's not an extension, as the final year of Fox's current deal was ripped up. The source describes the deal as "fair and generous" for the coach who braved midseason heart surgery to lead the Broncos to their third consecutive AFC West title and their first conference championship since 1999.

Rapoport reported in February that the Broncos were primed to start negotiations with Fox after the Super Bowl, with one team source saying Fox was "perfect for us."

The news comes on the heels of Pete Carroll -- Fox's adversary on Super Bowl Sunday -- signing a two-year contract extension with the Seattle Seahawks.