IOWA CITY - Iowa men's basketball coach Steve Alford has reached a tentative agreement on the terms of his contract with the university.
Alford tentatively agreed to a five-year contract extension with an annual salary of $900,000, not including other incentives, University of Iowa Athletics Director Bob Bowlsby announced Wednesday.
"I appreciate very much the commitment that Mr. Bowlsby and the University of Iowa have presented," Alford said. "I couldn't be more pleased with all phases of our program."
The contract will run through the 2009 basketball season.
"I am very pleased that we have been able to extend Steve's contract," Bowlsby said. "Coach Alford and the entire basketball staff have done an excellent job at Iowa, and we look forward to their leadership for many years to come."
Alford led the Hawkeyes to 23-11 record this season, with the Hawkeyes winning the Big Ten championship and earning an automatic berth into the NCAA tournament. Iowa defeated Creighton and made it to the second round the NCAA tournament, but lost 92-79 to Kentucky.
After the loss, rumors circulated that Indiana was looking at Alford as a candidate to fill the Hoosier's head coaching job. But speculation ended when the university decided to keep Mike Davis as coach.
Alford said last week he was glad the hubbub surrounding the Indiana coaching job is behind him.
Alford and Bowlsby are attending the NCAA Final Four in Minneapolis. A press release stated they would be unavailable for comment until next week.