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Fred Hoiberg signs $20 million extension with Iowa State

By Matt Norlander | College Basketball Writer

Hoiberg is staying home and building up the Cyclones' program. (USATSI)

Amid this sweet Sweet 16 action on a Thursday night, we've got coaching rumors swirling about.

News, too.

And leave it to Iowa State's athletic director to send along a positive message regarding that team's coaching situation. Jamie Pollard broke the news -- via Twitter -- that Fred Hoiberg would be going nowhere for the near future. And very well the long-term, as well.

Here's what Pollard tweeted Thursday night.

Hoiberg's name had recently been floated as a candidate for the newly opened position at Minnesota. So much for that.

"When I returned to the university three seasons ago, it was a dream come true,” Hoiberg said in a statement. “The progress that we have made so far has been very rewarding, but there is more work ahead. I sincerely appreciate the support that president Leath and Jamie (Pollard) have given me. Ames is my home and Hilton Coliseum has given me countless memories as both a player and coach. I look forward to continue leading a program that Cyclone fans can be proud of."

Hoiberg has won 23 games in each of the past two seasons and has taken the team to the Round of 32 in both campaigns, the first time the program has done that in more than a decade. The school says the full terms of the contract will be released "at a later date."

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