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Iowa State gives head coach Fred Hoiberg $600,000 raise

Apr 11, 2014, 11:39 AM EDT

AP Photo AP

After leading his alma mater to 28 wins and its first Big 12 tournament title since 2000, Iowa State head coach Fred Hoiberg has been rewarded with a $600,000 raise as reported by the school. Hoiberg, whose team also made the program’s first Sweet 16 appearance since 2000, will now receive an annual salary of $2.2 million with the new deal going into effect on May 1. With Hoiberg’s original deal averaging $2 million per year, that average is now up to $2.6 million per year.

“We are pleased to come to terms on a revised contact with Coach Hoiberg and his agent so quickly,” Iowa State AD Jamie Pollard said in the release. “We hope our commitment to him will keep him at Iowa State University for the rest of his career.”

There were no other changes to Hoiberg’s contract, which is of particular interest to those who may be concerned that at some point an NBA franchise could come calling. According to Travis Hines of the Ames Tribune, Hoiberg would have to pay the school $500,000 if he were to leave Iowa State for a head coaching job in the NBA. Hoiberg’s buyout to move to another school, by comparison, is $2 million.

Hoiberg and his staff lose DeAndre Kane and Melvin Ejim from this year’s team, which fell to eventual national champion UConn in the Sweet 16. But they do return forwards Georges Niang and Dustin Hogue, along with backcourt contributors such as Monte Morris, Naz Long and Matt Thomas.

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