The Hoosiers will play their first game on September 1st in Miamia, FL against Florida International University.
Wilson's contract will last through the 2021 season and brings the coach's salary to $2.55 million.
Although the Hoosiers haven't won any of the four Big Ten games played so far, the broadcast exposure has been beneficial for the football program.
The game is expected to draw one of the four largest crowds in IU football history.
Indiana doctors are reporting that they are seeing more cases of the respiratory illness, pneumonia this year.
Latham missed the season opener after he and several other players were sidelined for unspecified reasons.
IU's last home non-conference game is Saturday against Western Kentucky.
Officials say the suspensions could have come as punishment for an array of different occurrences.
The 20-year-old safety was dismissed from IU after he was arrested on several felony drug charges in June.
The 10 football players boycotted three games in 1969 after they said they were treated unfairly because of their race.