Fred Hoiberg contract: Details, buyout revealed for Nebraska extension

With the news of Nebraska extending head coach Fred Hoiberg, his contract details were released. Husker Online’s Robin Washut provided them Monday.

As you can see below, Hoiberg’s base salary, starting April 1, 2026, will be $5,000,000 and it increases by $100,000 each season through the end date. It’ll reach $5.5 million.

Here are the new financial terms of Fred Hoiberg's contract extension at Nebraska.

His 2025-26 salary was $4,350,000. pic.twitter.com/rViAWiTPwh

— Robin Washut (@RobinWashut) March 9, 2026

Not only that, the buyout number for Hoiberg drops each season as well. It goes from $8,000,000 in 2027 to $6,000,000 and so on and so forth each season. Hoiberg also has incentives in his contract for winning the Big Ten title in the regular season or conference tournament. Plus, there are NCAA Tournament incentives.

Here are the performance incentives included in Fred Hoiberg’s contract extension: pic.twitter.com/t3PwEdO22Q

— Robin Washut (@RobinWashut) March 9, 2026

“Fred Hoiberg is a tremendous representative of the University of Nebraska, the Lincoln community, and our state. We are extremely proud that he will continue to lead the Nebraska men’s basketball program well into the future,” Nebraska athletic director Troy Dannen said in a release.  “Fred has built this program step by step and his leadership has Nebraska positioned to continue to compete at a high level in the Big Ten Conference and nationally.  Fred is one of the most respected coaches in the country by his peers, and his success has been recognized throughout the college basketball world.”

The Cornhuskers concluded the regular season with a 26-5 record and are currently ranked No. 9 in the country. They are expected to finally win their first NCAA Tournament game or games in program history.

Hoiberg is in his seventh season as Nebraska’s head coach. The Cornhuskers posted losing records in each of Hoiberg’s first three seasons at the helm. Then, the program began to turn upward.

In the 2022-23 season, the Cornhuskers finished with a .500 record. Nebraska posted 23 wins the following season and made its first NCAA Tournament appearance of Hoiberg’s tenure.

Nebraska took a slight step backward last season, missing out on the NCAA Tournament. Nonetheless, the Cornhuskers are now poised to be a 3-seed in the Big Dance after finishing second in the regular-season Big Ten standings.

Grant Grubbs contributed to this report