Hefty Raise for Fred Hoiberg
Iowa State men's basketball coach Fred Hoiberg is being rewarded for a great 2013-2014 campaign that saw the Cyclones win 28 games, the second most in school history. The school announced this morning that Hoiberg's salary will increase (effective May 1st, 2014) from $1.6 million to $2.2 million per year. All other contract terms will remain the same. Hoiberg signed a 10-year deal in May of 2013.
Winthrop Intelligence, the leading source of comparative coaching contracts, reports that Hoiberg's new deal will rank him near the Top 10 paid coaches nationally.
In a press release from the University, Iowa State Director of Athletic Jamie Pollard said, "We are pleased to come to terms on a revised contact with Coach Hoiberg and his agent so quickly. We hope our commitment to him will keep him at Iowa State University for the rest of his career. We recognize the tremendous accomplishments that have become commonplace during Fred’s tenure. 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.”
Cyclone Nation is rejoicing this morning, and rightfully so. The program is in excellent hands.