Amid a third straight losing season, the university issued a statement on Thursday regarding Hoiberg's future with the program.
A rocky start to his time at Nebraska won’t cost Fred Hoiberg his job as men’s basketball head coach... for now.
Nebraska athletic director Trev Alberts announced Thursday that Hoiberg will remain with the university for the 2022–23 season despite the team's lack of improvement since he took over in 2019.
The Cornhuskers are currently 7–20 overall, with a 1–15 record in conference play this season.
“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.”
As Alberts mentioned, Hoiberg will enter the 2022–23 season on a reworked deal. He is set to earn $3.25 million (down from $3.5M), and will carry a contract buyout of $11 million, per KMTV.
With only four games remaining before the Big Ten Tournament, the 2021–22 campaign will go down as the Cornhuskers’ third straight losing season of Hoiberg’s tenure; the team went a combined 14–45 over the past two years.
Despite producing a head coaching stint that more resembles the former NBA player’s run with the Chicago Bulls (115–155) than his successful stretch with his alma mater Iowa State (115–56), Hoiberg reiterated his desire to stay in Lincoln and finally turn the team around.
“As I said when I was hired three years ago, it is an honor to be the men’s basketball coach at the University of Nebraska, and I am excited to continue to lead the Husker program,” Hoiberg said Thursday. “This has always been a special place to me and my family, and we have grown to love the Lincoln community in our time here.
“I appreciate the confidence that and University leadership has shown in me. Our results on the court have not been what anyone would have hoped, but I am more committed than ever to building a successful basketball program at Nebraska.”
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