Fred Hoiberg contract extension: Exploring Nebraska HC's new multi-year deal

Fred Hoiberg has done an excellent job turning things around for the Nebraska Cornhuskers. After leading the program to their first March Madness appearance since the 2013-14 season and their second most wins in program history, the 2024 Co-Big Ten Coach of the Year was awarded a contract extension that will keep him in the role through the 2028-29 season.

As per The Athletic, Hoiberg is set to receive a pay raise that will see him bring in $4.25 million in 2024-25, the first year of the deal. That figure will rise by $100,000 in each of the following four years, maxing out at $4.65 million in his final year.

When his salary rises to $4.45 million in 2026-27, he will be the 12th-highest-paid coach in college basketball. Hoiberg will also become the third-highest-paid coach in the Big Ten, trailing only Michigan State Spartans coach Tom Izzo and Illinois Fighting Illini coach Brad Underwood.

Nebraska interim athletic director Dennis Leblanc discussed the decision to extend Fred Hoiberg in the press release announcing the deal, stating:

"I have had the opportunity to work closely with five men’s basketball head coaches in my four decades in Nebraska Athletics, and I am more confident than ever in the direction of our men’s basketball program. Coach Hoiberg is a great representative of the University of Nebraska, and our program has shown great progress and improvement over the past two seasons.

"Fred has shown that he is committed to leading a program that succeeds on the court, in the classroom and in the community. We look forward to watching him and our team play on Friday in the NCAA Tournament."

What did Fred Hoiberg say about his extension?

After receiving a contract extension, Fred Hoiberg weighed in on the new deal. In the official press release, the Nebraska Cornhuskers head coach stated:

"I’m appreciative of the confidence our administration has shown in our staff’s leadership of the Husker basketball program. With our history at the University of Nebraska, this is a special place for our family.

"We want to continue to build a program that our fans can embrace and one that represents the values of Nebraskans. With the phenomenal facilities and fan support in place, we are positioned to do things that have never been accomplished by the Husker men’s basketball program."

Hoiberg will look to lead the Cornhuskers to their first NCAA Tournament victory in program history when they face the Texas A&M Aggies on Friday. Nebraska is 0-7 in March Madness and the only Power Five conference school that has never won a tournament game.