By Chris Williams, CycloneFanatic.com Publisher
Per an Iowa State press release, basketball coach Fred Hoiberg signed a new eight-year contract with the school on Tuesday, worth $1.5 million annually.
This news was first reported on Steve Malchow’s blog at Cyclones.com.
Hoiberg led Iowa State to its first NCAA Tournament since 2005 last season and 23 wins along the way.
"Returning to Ames has been so much more than expected for our family and I’m thrilled to have the chance to continue developing a nationally competitive program at Iowa State," Hoiberg said in a release. "The support of our fan base and commitment of our players has brought the magic back to Hilton. I am humbled with the extension, to say the least, and anxious to continue our journey at Iowa State."
According to the release, full terms of the new contract will be released at a later time.
"Fred is so much more than a great basketball coach," Jamie Pollard said in the release. "He is an outstanding leader with quiet confidence, long-term vision and a popularity with the fan base that is hard to describe. We couldn’t be more pleased with Fred’s long term commitment to the University."