Nebraska has released contract details for new head coach Fred Hoiberg and his assistant coaches. Most notably, Hoiberg’s seven-year, $25 million deal is backloaded but includes stay bonuses at multiple stops along the way, a $150,000 bonus for making the NCAA tournament, a significantly larger buyout if he were to leave for another Division I coaching opportunity than an NBA one and season football tickets.
Hoiberg’s deal, which he officially signed on March 29, will pay him $2.5 million in his first season at the helm, $3 million in his second season and $3.5 million each year through 2026.
If he is still the head basketball coach at Nebraska on July 2, 2020, he will be paid a $1 million “stay” bonus. His contract stipulates he gets another $500,000 if he's still at NU on April 1, 2024, and another $500,000 if he's still at NU on April 1, 2025.
His performance-based bonus structure is as follows:
- $100,000 for winning the Big Ten regular season and/or tournament title
- $150,000 for making the NCAA Tournament, plus the greatest of
- $30,000 for making the Round of 32
- $40,000 for making the Sweet 16
- $55,000 for making the Elite Eight
- $75,000 for making the Final Four
- $300,000 if NU wins the national title
He will also be afforded 20 hours of private, non-commercial flight time, 10 season tickets for men’s basketball and six season tickets for football, paid travel expenses for his immediate family to attend a minimum of eight road games each year, and paid travel expenses for him to attend the Final Four if Nebraska isn’t playing in it (plus two complimentary tickets).
Hoiberg’s buyout, should he leave Nebraska for another coaching job at the Division I ranks, would be as follows:
- $11.5 million after Year 1
- $10.25 million after Year 2
- $8.75 million after Year 3
- $7 million after Year 4
- $5.25 million after Year 5
- $0 after Years 6 and 7
If he were to leave for another job at a different level (i.e., the NBA), he would owe Nebraska:
- $2.5 million after Year 1
- $2 million after Year 2
- $1.5 million after Year 3
- $500,000 after Year 4
- $250,000 after Year 5
- $0 after Years 6 and 7
Hoiberg’s last job was head coach of the Chicago Bulls and he himself said during his introductory press conference he thought about sitting out this coaching cycle and waiting to see if an NBA job that interested him opened up. He also, however, said he and his wife Carol talked about this being their “last stop.”
The door to the NBA remains open, at the very least, should he want to go back down that path in the future, but Nebraska made sure to incentivize staying in Lincoln.
The Husker athletic department also released contract details for assistant coach Matt Abdelmassih.
The former St. John’s and Iowa State assistant is currently the only coach to have signed a contract with Nebraska to join Hoiberg’s staff, and he will earn an annual salary of $380,000 on a two-year contract that runs through April 30, 2021.
Assistants will also receive performance-based bonuses, same as Hoiberg.
- 15 percent of salary for a Big Ten title (regular or postseason), plus the greatest of
- 10 percent of salary for an NCAA Tournament appearance
- 15 percent of salary for making the Sweet 16
- 20 percent of salary for making the Final Four
- 25 percent of salary if NU wins the national title
Abdelmassih’s initial salary is already a major step up over the previous staff’s. According to Rivals, Michael Lewis earned $256,200, Armon Gates $256,000 and Jim Molinari $255,267 this season. The overall pool for Hoiberg’s assistants is officially set at $1 million, an increase from $767,467 for Tim Miles’ assistants in 2017.
Gates appears to be in consideration for one of the two remaining spots on Hoiberg’s staff.