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Fran McCaffery's contract as the University of Iowa's head men's basketball coach has been extended four years, through the 2027-28 season.
McCaffery's base salary remains unchanged for the next two seasons, however there is a longevity bonus at the end of the 2021-22 and 2022-23 seasons. His annual salary will increase each of the last five years.
McCaffery made $2 million last season in his 10th season at Iowa. He took a voluntary one-year 15 percent cut for the 2020-21 season, as did fellow UI coaches Lisa Bluder, Tom Brands and Kirk Ferentz.
'I am excited to announce the extension of Fran's contract,' Iowa Athletics Director Gary Barta said in a news release. 'He's earned it. He's built a strong foundation upon which we can continue to build for years to come. We originally planned to provide the extension at the end of last season, but paused due to the pandemic. I've appreciated Fran's patience through it all.'
Iowa is 21-8 (14-6 in the Big Ten) and ranked No. 8 as it prepares for a first-round NCAA tournament game Saturday against Grand Canyon.
The Hawkeyes have first-division Big Ten finishes in eight of the last nine seasons and 20 wins or more in seven of them. This is Iowa's fifth NCAA appearance under McCaffery. His Iowa record is 215-103.
'I am grateful to Gary Barta and President Bruce Harreld for their continued support,' McCaffery said in the release. 'It truly is an honor to represent the University of Iowa and coach the tremendous young men in our program. I am proud of what our team accomplished during the regular season, and we are eager to compete for a national championship this month.'
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