Speaking to , a board functionary confirmed the same and said that even the support staff that will be picked by chief selector M.S.K. Prasad and team will be given an identical contract.
"The head coach will be at the helm of affairs till the 2021 World T20 and after that it will be a process of re-appointment or selection of a new coach as has been the trend in recent years. The support staff will also be handed contracts till the World T20 as continuity is very important considering the big ticket events that are lined up over the next couple of years," the functionary said.
While Ravi Shastri is favourite to retain his position as head coach - the CAC isn't too keen on a foreign face - there are five other candidates who are looking to give him tough competition.
A look at the credentials of the personnel who will look to fight it out with the former India all-rounder:
The 44-year-old, who holds the distinction of being the longest serving coach of the Black Caps, has a vast coaching experience. His first international assignment was with Kenya after the 2011 World Cup.
He had signed a two-year contract but had resigned much before the completion of his tenure citing security reasons. He then replaced John Wright as the New Zealand coach in 2012.
Under his coaching, the Kiwis reached their first-ever World Cup final in 2015 where they lost to Australia. His contract was extended in 2016 until the end of the 2019 World Cup, but Hesson resigned in June 2018 in order to spend more time with his family.
Hesson also served as the head coach of IPL franchise Kings XI Punjab before stepping down on August 8 this year. He is in running for the position of Pakistan's head coach as well.
The former West Indies all-rounder has coached Zimbabwe, Ireland, West Indies and Afghanistan since his retirement in 2002.
The 56-year-old was first appointed as the head coach of Zimbabwe in 2004. However, it proved to be a difficult and controversial job, not least because he inherited a team heavily weakened thanks to the mass dismissal of most of the senior players. Eventually, he was sacked in 2005.
Simmons then succeeded Adrian Birrell as coach of Ireland after the 2007 World Cup. He significantly improved Ireland's standing in world cricket as their coach. His tenure included 224 matches, making him the longest serving coach in international cricket.
After the conclusion of the 2015 World Cup, he became coach of his native West Indies team and went on to lead them to a historic World T20 victory in India in 2016.
Thereafter, he was the batting coach for Afghanistan and later was appointed as the head coach in 2017. In June 2019, he was named as the coach of the Brampton Wolves franchise team for the Global T20 tournament in Canada.
The former Australian medium pacer has a coaching experience of more than 14 years. In 2005, Moody was appointed as head coach of Sri Lanka and he led them to the final of the 2007 World Cup before leaving the post and went home to coach Western Australia for three years.
In 2017, it was announced that Moody would be appointed as the head coach of Multan Sultans in the Pakistan Super League for 2018.
The 53-year-old's most successful stint has come with Sunrisers Hyderabad in the IPL. He has coached the side for six seasons during which it won one title and made five play-offs.
The former India all-rounder, who is known for his brilliant fielding, stepped into the world of coaching with Indian U-19s before taking over as the coach of Hong Kong in 2004. He helped the team to qualify for the 2004 Asia Cup.
Singh, was appointed coach of the India A cricket team in 2006, where he coached cricketers such as Gautam Gambhir and Robin Uthappa.
Between 2007 and 2009, Singh was the fielding coach of Team India.
The former Indian all-rounder was the first coach of Deccan Chargers in 2008. However, after an unsuccessful season with the Hyderabad-based franchise, he led Mumbai Ind to their maiden title with the Champions League T20 in 2011 before taking over the role of the side's batting coach.
The left-handed batsman led Barbados Tridents to their only Caribbean Premier League title win in 2014. He has also helped coach the senior and junior USA cricket teams. In 2011, Singh coached the United States women's cricket team at the World Cup Qualifier Tournament in Bangladesh.
The former Indian batsman became the coach of India U-19 during the tour of England. In 2007, he was appointed as the manager of the senior Indian cricket team for the inaugural World T20 held in South Africa when the M.S. Dhoni-led side emerged as champions beating Pakistan in a nail-biting final.
Thereafter, he stepped into coaching with Mumbai Ind in the inaugural season of IPL in 2008.
However, his first international coaching role came with Afghanistan in 2016 where he replaced Inzamam-ul-Haq. In May 2018, he was named as the interim head coach of Zimbabwe and in August 2018, he was appointed to the role on a permanent basis.
While Shastri is leading the race by a margin, Bharat Arun is also set to continue as the bowling coach. The position for batting coach will be a fight between Vikram Rathour and Praveen Amre with the former most likely to take charge. The candidates for the positions of India's support staffs will begin on Saturday.
( With inputs from IANS )