Nebraska announces decision on Fred Hoiberg's future

Nebraska made its stance clear on head coach Fred Hoiberg’s future on Thursday. He’s not going anywhere.

Nebraska athletic director Trev Alberts announced Thursday Hoiberg will return for the 2022-23 season. The announcement comes as the Cornhuskers are in the midst of a 7-20 season, including a 1-15 conference record.

Alberts also confirmed Hoiberg agreed to a new, restructured contract. His salary is now $3.25 million, his $500,000 say bonus is gone and his buyout is now $11 million, according to the Omaha World-Herald’s Jimmy Watkins.

Hoiberg took over at Nebraska in 2019 and has a 21-62 record in nearly three seasons at the helm. He arrived in Lincoln after a stint as the head coach of the Chicago Bulls. Hoiberg also spent five years as the head coach at Iowa State.

Nebraska AD Trev Alberts explains decision to retain Fred Hoiberg

Shortly after Alberts made the announcement, the Cornhuskers released statements from him and Hoiberg regarding the decision.

“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 stated. “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 took over the program in 2019 has guided the Cornhuskers to just 21 wins in that time. He also released a statement about the decisison.

“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. 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 Trev Alberts 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.”