Why is this coach working on his contract right now?

[Luke]

EL PASO, Texas -- Oregon State coach Mike Riley has agreed to a one-year contract extension that will take him through the 2015 season.

Riley has taken Oregon State to three straight bowl games and five in a six-year span during his second tenure at the school. The Beavers meet Pittsburgh on Wednesday in the Sun Bowl.

Riley said he has "a terrific job at a place that I truly love." He is due to earn about $1 million this season with incentives. He had been working with a six-year contract that rolled over for every bowl appearance.

The new contract will be at seven years and is structured similarly in that it will add a year for each bowl appearance.

[Luke]

Why is this coach working on his contract right now instead of preparing for his bowl game?Is it just me or arent there more important things for a coach to worry about the day before his bowl game than your contract?
He was already signed through 2014 why did he find it that important to get another year rather than preparing for his bowl game ?