Fred Hoiberg's contract with Nebraska features a $1 million retention bonus if Hoiberg is still the Huskers' coach until July 1, 2020, and a hefty buyout if he leaves for another NCAA Division I program, according to the document released Friday afternoon by the university.
Hoiberg will be paid a base salary of $2.5 million his first season, $3 million his second season, and $3.5 million each of the five remaining years of his contract, which runs through March 31, 2026, or NU's final game of the 2025-26 season.
In addition to the $1 million retention bonus, Hoiberg will be paid $500,000 if employed on March 31, 2024 and another $500,000 if employed on March 31, 2025.