Nebraska coach Fred Hoiberg will return for a fourth season but has agreed to a pay cut and a reduced buyout if he’s fired after next season. Athletic Director Trev Alberts made the announcement on Thursday night.
Hoiberg is 21-65 overall and 6-49 in the Big Ten entering a home game against No. 25 Iowa on Friday. The Huskers are 7-20 this season, with just one win in Big Ten play.
Hoiberg’s salary will be reduced to $3.25 million from $3.50 million, and he will forfeit a $500,000 retention bonus. His contract buyout was reduced from $18.5 million to $11 million.