Iowa State head coach Fred Hoiberg has received a $600,000 raise from the school, giving him an average income of $2.6 million, as the school tries to keep him amidst rumors that some NBA teams are interested in hiring him.
The 41-year-old Hoiberg has finished his fourth year at Iowa State, leading the team to 28 wins and a Sweet 16 appearance, the first in 14 years.
"We are pleased to come to terms on a revised contact with Coach Hoiberg and his agent so quickly," athletic director Jamie Pollard said as quoted by AP via ESPN. "We hope our commitment to him will keep him at Iowa State University for the rest of his career."
Hoiberg, nicknamed "The Mayor' while playing for Iowa State in the '90s, was given a 10-year, $20-million contract in March 2013. Should he choose to leave the school to become a coach or general manager in the NBA, he would have to pay Iowa State half a million dollars, and $2 million should he transfer for another Division I school.
He has led the school to three straight appearances in the NCAA tournament. Overall, he has a 90-47 record with the Cyclones.
"We recognize the tremendous accomplishments that have become commonplace during Fred's tenure," Pollard added.
The Cyclones continued its improvement with Hoiberg on board. He led them to a record 14-0 start, beating the likes of Kansas State, Kansas and Baylor. The Cyclones also defeated North Carolina before losing to eventual national champion Connecticut in the Sweet 16.
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