Former Chicago Bulls Coach Fred Hoiberg will return to the sidelines at the college level next season after signing a seven-year contract with Nebraska
Former Chicago Bulls Coach Fred Hoiberg will return to the sidelines at the college level next season after signing a seven-year contract with Nebraska that runs through the 2026 season. Stadium obtained the memorandum of understanding via public records request.
His base salary will start at $2.5 million in the first year before climbing to $3.5 million in Year 3.
His base salary is outlined below:
Hoiberg can also receive a retention bonus by staying at Nebraska through specified dates.
Hoiberg’s incentive structure is outlined below.
If Nebraska terminates Hoiberg’s contract, the university will owe him his base salary per year or portion of a year through the end of the contract term plus all retention bonuses, minus the amount that Hoiberg receives during the term of the contract from other employment.
Hoiberg will receive an assistant coach salary pool of $1,000,000 for his three assistant coaches. The assistant coaches will have two-year contracts.
Hoiberg’s first assistant coaching hire at Nebraska was former St. John’s assistant Matt Abdelmassih, who was on Hoiberg’s staff at Iowa State. He’ll make $380,000 annually.
Nebraska’s assistant coaches will be entitled to bonuses as outlined below:
If Hoiberg were to leave Nebraska to be the head coach at another school, he would owe the university liquidated damages that are outlined below:
Hoiberg wouldn’t owe Nebraska any liquidated damages if he left the school during Year 6 or 7.
If Hoiberg leaves Nebraska for a basketball coaching opportunity other than an NCAA DI head coach or to become an executive in a basketball-related field (read: an NBA coach or executive), he’d owe the university the liquidated damages that are outlined below:
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