LINCOLN (KMTV) — Nebraska men's basketball coach Fred Hoiberg will return next season according to NU athletic director Trev Alberts. Hoiberg's contract will be restructured dropping his salary to $3.25 million per year (down from $3.5 million) and his buyout will drop to $11 million. Hoiberg is also giving up a $500,000 stay bonus according to Alberts. In his nearly three seasons at NU, Hoiberg has an overall record of 21-65 and 6-49 in the Big Ten.
Statement from Nebraska Vice Chancellor, Director of Athletics Trev Alberts:
“Over the past few weeks, I have had several productive meetings with Coach Hoiberg, and we agree the results of our team are not acceptable. No one is more disappointed or frustrated than Fred Hoiberg. I have known Fred for a long time and watched him build and lead successful teams.
“Fred has presented a plan to me that I believe is in the best long-term interest of the Nebraska Athletic Department and our men’s basketball program. Additionally, Fred has agreed to restructure his contract to help us make the changes that are necessary to reorient our program. I believe in Fred and look forward to working with him as he executes his vision for the future of Nebraska men’s basketball.”
Statement from Nebraska Men’s Basketball Coach Fred Hoiberg:
“As I said when I was hired three years ago, it is an honor to be the men’s basketball coach at the University of Nebraska, and I am excited to continue to lead the Husker program. This has always been a special place to me and my family, and we have grown to love the Lincoln community in our time here.
“I appreciate the confidence that Trev Alberts and University leadership has shown in me. Our results on the court have not been what anyone would have hoped, but I am more committed than ever to building a successful basketball program at Nebraska.”
