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Fred Hoiberg Received An Unannounced Contract Extension in 2020

NCAA Basketball: Kennesaw State at Nebraska Steven Branscombe-USA TODAY Sports

The Omaha World Herald reported today that Nebraska Men’s basketball coach Fred Hoiberg was given a contract extension and money added to his buyout under former athletic director Bill Moos’ tenure. This extension to his contract was left unannounced by the athletic department at the time.

The contract was extended by on year and pushed the buyout to $18.5 million. That would push his contract to the 2026-27 basketball season. It also includes two $500,000 stay bonuses he would earn in the years 2024 and 2025. Also, five years of salary at Hoiberg’s current annual rate of $3.5 million.

A hefty amount of money considering he is still rebuilding the program from the ground up in his third season at the helm.

This updated contract extension was done back on June 9th, 2020. Again, no press release from the university athletic department or any other source. Fred is currently leading the Huskers with a 6-10 record and no wins in conference play. He is overall 20-55 at Nebraska with a Big Ten record of just 5-39.