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Fred Hoiberg Will Return For Fourth Year With Restructured Contract

NCAA Basketball: Maryland at Nebraska Steven Branscombe-USA TODAY Sports

The Nebraska Cornhuskers head coach Fred Hoiberg will officially stay on as head of the program for another season according to an official statement from Nebraska Athletic Director Trev Alberts. The announcement came last Thursday evening ahead of the final home game of the year. The Huskers season will end in two weeks at the Big Ten Tournament with yet another 20+ loss season barring a miracle run to the Tournament title that would give an auto-bid to the NCAA Tournament.

Hoiberg will stay on for a fourth season and currently holds a 21-65 record as head coach in Lincoln. Hoiberg was hired March 30, 2018, replacing Tim Miles as head of the program. As part of his return, Hoiberg will see a reduced salary of $3.25 million per year, and also agreed to a reduced buyout of $11 million. Hoiberg previously signed a contract extension at the end of his first season that increased his buyout to $18.5 million.

Below are the statements provided by Hoiberg and Alberts.

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.

-Fred Hoiberg

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.

-Trev Albert

Nebraska hosts Iowa tomorrow night at Pinnacle Bank Arena as the final home game of the regular season.

Here’s Jon’s Instant Reaction to Fred Hoiberg returning - I know you’re all on pins and needles for this: