LINCOLN — New Nebraska men’s basketball coach Fred Hoiberg’s contract is for seven years and $25 million. It is the biggest contract in NU basketball history.

Nebraska will now employ one of the highest paid coaches in college basketball.

In terms of total pay, Hoiberg’s $3.57 million a year salary is higher than all but 10 coaches nationally and two in the Big Ten made this season, according to USA Today. He ranks behind just Michigan State’s Tom Izzo, who makes $4.15 a year, and Michigan’s John Beilein, who makes $3.8 million.

Hoiberg’s salary is higher than the 2019 compensation for Indiana’s Archie Miller, Tennessee’s Rick Barnes and Texas’ Shaka Smart.

The increase in spending is a major move for Nebraska, which paid Tim Miles $2.37 million for the 2018-19 season. That was 44th in the country and eighth in the Big Ten. 

The Big Ten average was about $2.7 million this season.

Miles was fired Tuesday after seven seasons. Hoiberg finalized his contract Saturday morning. He made $5 million a year at his previous job coaching the Chicago Bulls. While at Iowa State, Hoiberg made $2.6 million a year.

Combined, Nebraska will pay its head football and basketball coaches $8.57 million a year, which ranks among the highest combinations in the country.

Scott Frost ranks 10th in the country with a $5 million a year salary. That ranks third in the Big Ten.

Top 10 men's college basketball salaries:

1. John Calipari, Kentucky: $9.2 million

2. Mike Krzyzewski, Duke: $7.04 million

3. Tom Izzo, Michigan State: $4.15 million

4. Tony Bennett, Virginia: $4.15 million

5. Bill Self, Kansas: $4.066 million

6. Chris Mack, Louisville: $4.007 million

7. Roy Williams, North Carolina: $3.92 million

8 Jay Wright, Villanova: $3.8 million

9. Bob Huggins, West Virginia: $3.86 million

10. John Beilein, Michigan: $3.8 million

11. Fred Hoiberg, Nebraska: $3.57 million

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Big Ten men's basketball salaries

Michigan: John Beilein, $3.8 million

Michigan State: Tom Izzo, $3,732,562

Nebraska: Fred Hoiberg, $3.57 million

Indiana: Archie Miller, $3.25 million

Ohio State: Chris Holtmann, $3,013,750

Illinois: Brad Underwood, $2.85 million

Maryland: Mark Turgeon, $2,847,232

Purdue: Matt Painter, $2.825 million

Wisconsin: Greg Gard, $2.35 million

Iowa: Fran McCaffery, $2.3 million

Minnesota: Richard Pitino, $2,188,141

Rutgers: Steve Pikiell, $1.6 million

Northwestern: Chris Collins, $1,507,154

*Penn State is protected by Pennsylvania state law from providing salary figures for coach Patrick Chambers.

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Chris Heady covers Husker football and is the Nebraska men's basketball beat writer. He started at The World-Herald in 2017. Follow him on Twitter @heady_chris. Email: chris.heady@owh.com.

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