LINCOLN – Fred Hoiberg's deal has a few wrinkles, including big bonuses, plus he's a long time in Nebraska.
Even though the seven-year contract equals $ 25 million if Hoiberg were to complete the entire contract, his base salary was not $ 3.57 million, nor the annual average. Hoiberg will receive $ 2.5 million in the first year, $ 3 million in the second year and $ 3.5 million in years three to seven.
The residence bonus will be used to increase Hoiberg's salary in three different places. If Hoiberg is still in Nebraska from here …
" By mid-July 2020 (in 15 months) he will receive a payment of $ 1 million.
" March 31, 2024, he will receive a payment of $ 500,000.
" March 31, 2025, he will receive another payment of $ 500,000.
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The Hoiberg contract also provides for two sets of redemption figures to account for the possibility that he will take another coaching position at an NBA college or coach.
The schedule of what Hoiberg should be at NU was when he took another university job:
The schedule of what Hoiberg will have at NU's was another coaching position outside of the NCAA or a basketball related executive position:
The agreement between Hoiberg and Nebraska includes performance bonuses. He will receive $ 100,000 for winning a Big Ten Championship in the regular season and / or tournament. He will also receive $ 150,000 for participation in an NCAA Tournament, plus the greater of:
" $ 30,000 for reaching the round of 32.
" $ 40,000 to reach the Sweet 16.
" $ 55,000 to reach the eight elite.
" $ 75,000 to reach the Final Four.
" $ 300,000 for winning a national championship.
The Hoiberg contract also includes a $ 1 million salary pool for assistants. Matt Abdelmassih has been hired to date for an annual salary of $ 380,000.
The assistants will also receive performance-based bonuses, including a 15% bonus of the coach's salary for a Big Ten Championship, as well as the largest amount of:
" 10% of the salary for participation in an NCAA tournament.
" 15% of salary to reach the Sweet 16.
" 20% of the salary to reach the Final Four.
" 25% of salary to win a national championship.
Fred Hoiberg, center, and his wife Carol Hoiberg, left, arrive for a press conference.
Nebraska Sports Director Bill Moos, left, Nebraska Football Coach Scott Frost, Jane Green and her husband Chancellor of the University of Nebraska Ronnie Green arrive for a conference Press.
Fred Hoiberg's wife, Carol Hoiberg, kisses Eric Hoiberg before sitting down.
Nebraska basketball coach Fred Hoiberg will speak at a press conference.
Fred Hoiberg shakes hands with former basketball player Husker Albert Maxey before sitting down.
Chancellor Ronnie Green and his wife Jane Green walk behind Fred Hoiberg who stops to hug his father, Eric Hoiberg.
Bill Moos and Fred Hoiberg answer questions from the media.
Amy Williams, Nebraska women's basketball coach, arrives for the press conference.
A photo of Fred Hoiberg was on the big screen at Memorial Stadium before a press conference on Tuesday.
Nebraska basketball coach Fred Hoiberg will speak at a press conference.
Carol Hoiberg, left, and Karen Hoiberg, right, look at the press release regarding the hiring of Fred Hoiberg's grandfather.
Bill Moos and Fred Hoiberg answer questions from the media.
Nebraska basketball coach Fred Hoiberg will speak at a press conference.
Sports Director Bill Moos speaks to the media.
Nebraska basketball coach Fred Hoiberg will speak at a press conference.
Nebraska basketball coach Fred Hoiberg will speak at a press conference.
Nebraska Basketball Coach Fred Hoiberg, right, listens to the speech of Nebraska Sports Director Bill Moos at a press conference.
Karen Hoiberg, left, and her husband, Eric Hoiberg, parents of Nebraska basketball coach, Fred Hoiberg, speak with Chancellor of the University of Nebraska, Ronnie Green, and his woman, Jane Green, at the end of a press conference.
Fred Hoiberg, a coach at the University of Nebraska, is interviewed at the conclusion of a press conference.
Karen Hoiberg, center, listens to her son, Nebraska basketball coach Fred Hoiberg, speaking at a press conference.
Nebraska basketball player Isaiah Roby listens to Nebraska head coach Fred Hoiberg speaking at a press conference.
Albert Maxey, left, and Rex Ekwall, right, pose with Nebraska men's basketball coach, Fred Hoiberg. Maxey and Ekwall played basketball for Hoiberg's grandfather, Jerry Bush, a former Nebraska men's basketball coach.
Nebraska men's basketball coach Fred Hoiberg, left, and his assistant, Matt Abdelmassih, wait for Hoiberg's wife, Carol, to step into the elevator at the exit of the conference. press.
Nebraska basketball coach Fred Hoiberg, right, shakes hands with Bill Moos, Nebraska's director of sports, who hands him a framed copy of the press release that was used to announce that the big Hoiberg's father, Jerry Bush, had been appointed Nebraska men's basketball coach.
Nebraska Basketball Coach Fred Hoiberg, right, speaks at a press conference.
Nebraska Basketball Coach Fred Hoiberg, right, speaks at a press conference.
Fred Hoiberg, center, and his wife Carol Hoiberg, left, arrive for a press conference.
Nebraska Sports Director Bill Moos, left, Nebraska Football Coach Scott Frost, Jane Green and her husband Chancellor of the University of Nebraska Ronnie Green arrive for a conference Press.
Fred Hoiberg's wife, Carol Hoiberg, kisses Eric Hoiberg before sitting down.
Nebraska basketball coach Fred Hoiberg will speak at a press conference.
Fred Hoiberg shakes hands with former basketball player Husker Albert Maxey before sitting down.
Chancellor Ronnie Green and his wife Jane Green walk behind Fred Hoiberg who stops to hug his father, Eric Hoiberg.
Bill Moos and Fred Hoiberg answer questions from the media.
Amy Williams, Nebraska women's basketball coach, arrives for the press conference.
A photo of Fred Hoiberg was on the big screen at Memorial Stadium before a press conference on Tuesday.
Nebraska basketball coach Fred Hoiberg will speak at a press conference.
Carol Hoiberg, left, and Karen Hoiberg, right, look at the press release regarding the hiring of Fred Hoiberg's grandfather.
Bill Moos and Fred Hoiberg answer questions from the media.
Nebraska basketball coach Fred Hoiberg will speak at a press conference.
Sports Director Bill Moos speaks to the media.
Nebraska basketball coach Fred Hoiberg will speak at a press conference.
Nebraska basketball coach Fred Hoiberg will speak at a press conference.
Nebraska Basketball Coach Fred Hoiberg, right, listens to the speech of Nebraska Sports Director Bill Moos at a press conference.
Karen Hoiberg, left, and her husband, Eric Hoiberg, parents of Nebraska basketball coach, Fred Hoiberg, speak with Chancellor of the University of Nebraska, Ronnie Green, and his woman, Jane Green, at the end of a press conference.
Fred Hoiberg, a coach at the University of Nebraska, is interviewed at the conclusion of a press conference.
Karen Hoiberg, center, listens to her son, Nebraska basketball coach Fred Hoiberg, speaking at a press conference.
Nebraska basketball player Isaiah Roby listens to Nebraska head coach Fred Hoiberg speaking at a press conference.
Albert Maxey, left, and Rex Ekwall, right, pose with Nebraska men's basketball coach, Fred Hoiberg. Maxey and Ekwall played basketball for Hoiberg's grandfather, Jerry Bush, a former Nebraska men's basketball coach.
Nebraska men's basketball coach Fred Hoiberg, left, and his assistant, Matt Abdelmassih, wait for Hoiberg's wife, Carol, to step into the elevator at the exit of the conference. press.
Nebraska basketball coach Fred Hoiberg, right, shakes hands with Bill Moos, Nebraska's director of sports, who hands him a framed copy of the press release that was used to announce that the big Hoiberg's father, Jerry Bush, had been appointed Nebraska men's basketball coach.
Nebraska Basketball Coach Fred Hoiberg, right, speaks at a press conference.
Nebraska Basketball Coach Fred Hoiberg, right, speaks at a press conference.
