Nebraska Basketball: Fred Hoiberg’s contract signifies a program rebuild
Nebraska Basketball released the details of their contract with their new head coach.
The full details of Fred Hoiberg’s contract were released on Friday, and by the looks of it, it is setting the coach up to be a fixture at Nebraska Basketball for a long time.
The coach will make $2.5 million in his first season with the Nebraska basketball program. That number will bump up to $3 million in his second season, and $3.5 million over the next five seasons. There are also a bunch of bonuses added into the contract. He has the potential to make even more money if the Cornhuskers reach postseason play. He will be paid a $100,000 bonus if his team wins a regular season or Big Ten tournament title. If the Huskers make the NCAA tournament, he gets a $150,000 bonus.
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Should he lead the Nebraska Basketball program to their first-ever NCAA tournament win, that would give him an additional $30,000. Aside from what he will be able to make, other numbers of note include that he will have $1 million to sign three assistants. One of his assistants, Matt Abdelmassih has already signed for $380,000 on a two-year deal.
What this means to me is that Nebraska plans on having Coach Hoiberg around for a while. You do not sign a contract that lasts until 2025 without planning to have the coach around for a while. This tells me that the program is going to undergo a full rebuild, which I kind of expected already, but this gives him a safety net to rebuild the program back up. That is smart and a great business decision. With the amount of talent Nebraska Basketball is going to be losing, it will take the program a while to build itself. It is not going to happen overnight, nor should fans expect it to. This is a process that will take some time.
I’m curious to see who else will be rounding out Hoiberg’s staff. He certainly has a wealth of basketball experience as well as several connections within the game. Athletic director Bill Moos said Hoiberg’s staff should be completed within the next couple of days, and that would certainly be a welcome development. That way, the new coaches can hit the ground running when it comes to recruiting. Building up a strong basketball program will be important moving forward.
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In a time of newness and uncertainty, one thing is certain: Fred Hoiberg will be at Nebraska for quite a while. The Nebraska Basketball program should be in good hands with him, and I can’t wait to see what he can accomplish.