Fred Hoiberg will be sticking around as the head coach of Nebraska men’s basketball for at least another year. Hoiberg has been with the Cornhuskers since 2019.

The university made a post on Twitter about the announcement from AD Trev Alberts on Thursday. Hoiberg has a 21-62 record since taking over as head coach of the program. Sam McKewon of the Omaha-World Herald broke the news via Twitter.

Here’s what Alberts had to say about the decision to bring Hoiberg back:

“Fred has presented a plan to me that I believe is in the best long-term interest of the Nebraska athletic department and our men’s basketball program,” said Alberts. “Additionally, Fred has agreed to restructure his contract to help us make changes that are necessary to reorient our program. I believe in Fred and look forward to working with I’m as he executes his vision for the future of Nebraska men’s basketball.

Hoiberg’s contract will be restructured so that his salary will be reduced to $3.25 million, with his buyout also going down to $11 million.

Hoiberg had this to say about the decision:

“I appreciate the confidence that Trev Alberts and university leadership has shown in me,” said Hoiberg. “Our results on the court have not been what anyone would have hoped, but I am more committed than ever to building a successful basketball program at Nebraska.”

Hoiberg’s Cornhuskers are 7-20 so far this season. Their next game will be against No. 25 Iowa on Friday on FS1 at 9 p.m. ET.