Fred Hoiberg will stay on as Nebraska’s head basketball coach next season, athletic director Trev Alberts said Thursday.
Hoiberg arrived in Lincoln, Neb., with much fanfare before the start of the 2019-20 season. He most recently had served as the head coach of the NBA’s Chicago Bulls, and before that he had tremendous success at Iowa State, with a 115-56 record and four straight NCAA Tournament appearances.
However, Hoiberg has struggled mightily at Nebraska. He entered Thursday with a 21-65 record, including a 7-20 mark this season that ensured his third consecutive campaign with at least 20 losses.
“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,” Alberts said. “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.”
Hoiberg’s salary reportedly will be reduced from $3.5 million to $3.25 million. He will not draw a $500,000 bonus to stay for next season, and his buyout is decreased to $11 million.
–Field Level Media