MENU

      Two million reasons for Fred Hoiberg to stay at Iowa State

      It would cost Iowa State coach Fred Hoiberg $2 million to leave the Cyclones for another Division I school under a new contract signed last week and made public Tuesday. Hoiberg agreed to a new 10-year, $20 million deal in March after leading Iowa State to back-to-back NCAA tournament appearances. Hoiberg would essentially owe a year's salary to Iowa State if he leaves for another school.

      Hoiberg's buyout will be just $500,000 if he accepts a job as a head coach or general manager in the NBA. Hoiberg also receives $250,000 for reaching the Final Four and $100,000 for winning or tying for the Big 12 regular season title. Hoiberg's new deal, which mirrors one recently signed by football coach Paul Rhoads, runs through 2023.

      component-story-more_media_horiz-v1-01
      FOLLOW US ON TWITTER