Fred Hoiberg Net Worth, Salary, and Contract

Fredrick Kristian Hoiberg, born on October 15, 1972, is a prominent figure in American college basketball. Known as "The Mayor," Hoiberg enjoyed a successful playing career in the NBA before transitioning into coaching. He currently holds the position of men's head basketball coach at the University of Nebraska, a role he assumed in 2019 after coaching stints at Iowa State University and in the NBA with the Chicago Bulls.

Fred Hoiberg Net Worth

Fred Hoiberg boasts a net worth of $9 million, accumulated through his multifaceted career as both a player and coach. His journey from the basketball court to the coach's bench has been marked by notable achievements and contributions to the sport.

Fred Hoiberg Career Earnings

Specific details regarding Fred Hoiberg's overall career earnings are not readily available. However, his tenure as a player in the NBA, followed by coaching roles at various levels, undoubtedly contributes to his overall earnings and financial standing.

Fred Hoiberg Salary

Fred Hoiberg commands a salary of $3.25 million as the head coach of the Nebraska Cornhuskers men's basketball team. This figure reflects a restructured contract signed in the winter of 2022. Notably, Hoiberg's salary includes provisions for potential adjustments based on performance metrics agreed upon by both parties.

Fred Hoiberg Contract

Fred Hoiberg has solidified his commitment to the University of Nebraska through a comprehensive seven-year contract extending until the conclusion of the 2026 season. The terms of the agreement, obtained through public records by Stadium, highlight a structured compensation plan and performance-based incentives.

His base salary commences at $2.5 million in the inaugural year and progressively escalates to $3.5 million by the third year. The delineation of his base salary across the contract's duration is as follows:

• Year 1: $2.5 million

• Year 2: $3 million

• Year 3: $3.5 million

• Year 4: $3.5 million

• Year 5: $3.5 million

• Year 6: $3.5 million

• Year 7: $3.5 million

Additionally, Hoiberg stands to benefit from retention bonuses contingent upon his continued employment at Nebraska during specified dates:

• $1 million if employed on July 1, 2020

• $500,000 if employed on March 31, 2024

• $500,000 if employed on March 31, 2025

Furthermore, Hoiberg's incentive structure includes monetary rewards tied to the team's performance, such as:

• $100,000 for winning the Big Ten and/or the Big Ten Tournament

• $150,000 if Nebraska qualifies for the NCAA Tournament, coupled with additional bonuses ranging from $30,000 to $300,000 based on tournament advancement.

Fred Hoiberg Contract Breakdown

Unfortunately, there is insufficient information available to provide a detailed breakdown of Fred Hoiberg's contracts.

Fred Hoiberg Contract History

Hoiberg's coaching journey began at Iowa State University in 2010, where he achieved notable success, including leading the Cyclones to their first NCAA tournament appearance in years. Subsequently, he transitioned to the NBA, notably coaching the Chicago Bulls before assuming his current role at Nebraska.