Statement from Nebraska Vice Chancellor, Director of Athletics Trev Alberts:
"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. 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.