- Hoiberg is in his fourth season as Nebraska head coach.
- He signed an amended deal in February 2022.
- The Huskers won nine Big Ten games in his first three years.
“I wouldn’t have taken this job if I didn’t expect to turn it around,” Fred Hoiberg said when introduced as Nebraska head coach in April 2019.
Not even three years later, he was on the college basketball hot seat while overseeing the program’s worst three-year stretch since the 1930s. And he avoided unemployment by agreeing to a restructured contract.
Fred Hoiberg’s Contract
Fred Hoiberg’s initial contract ran from April 2, 2019, through March 31, 2026 (or the final game of the 2025-26 season) and included a base salary that began at $2.5 million:
- 2019-20: $2.5 million
- 2020-21: $3 million
- 2021-22: $3.5 million
- 2022-23: $3.5 million
- 2023-24: $3.5 million
- 2024-25: $3.5 million
- 2025-26: $3.5 million
That deal was amended in June 2020 – a one-year extension and increased buyout – and again in February 2022. The second amendment reduced his base salary to $3.25 million for the remainder of the deal (through the 2026-27 season).
If the program “achieves [undisclosed] metrics [in 2022-23 and beyond] mutually agreed to by” Hoiberg and the Nebraska administration, his base salary can return to $3.5 million for the duration of the deal.
Fred Hoiberg’s Buyout
Hoiberg is due a buyout if fired without cause before his contract ends on March 31, 2027.
If fired between April 1, 2022, and March 31, 2023, he’s owed $11 million, less any amount he receives for other employment after his termination, i.e., his buyout can be offset if he obtains another job.
April 1, 2023-March 31, 2024: $10 million
April 1, 2024-March 31, 2025: $7 million
April 1, 2025-March 31, 2026; $5 million
April 1, 2026-March 31, 2027: $3 million
Hoiberg’s predecessor Tim Miles was paid a $2.5-million buyout after his dismissal in March 2019. Miles had two years remaining on his contract.
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