The new deal
Sleep easy tonight, Cyclone Nation. Fred Hoiberg's new deal is done.
Iowa State won 28 games and a Big 12 Tournament championship in 2013-14 and Jamie Pollard rewarded Hoiberg for that on Friday morning with a new contract that will pay "The Mayor" on average $2.6 million annually. Hoiberg's previous contract that was signed last May paid him an annual average of $2 million.
“We are pleased to come to terms on a revised contact with Coach Hoiberg and his agent so quickly,” Iowa State Director of Athletics Jamie Pollard said in a release. “We hope our commitment to him will keep him at Iowa State University for the rest of his career.”
According to the release, all other terms of the contract remain the same when compared to the one that was signed last year.
It's notable that Hoiberg earned $150,000 in bonuses during last season's run to the Sweet 16.
“We recognize the tremendous accomplishments that have become commonplace during Fred’s tenure,” Pollard said. “We play an exciting brand of basketball that has brought Hilton Magic back to life. Equally important, his players have been good students and ambassadors for the institution.”