AMES, Iowa (AP) -- Iowa State and new coach Fred Hoiberg have agreed on a five-year contract with a base salary of $800,000.
Hoiberg was announced as the Cyclones new coach on Tuesday night, just one day after former coach Greg McDermott said he was leaving to take the same position at Creighton.
Hoiberg will be formally introduced at a news conference Wednesday.
A press release announcing Hoiberg's hiring says he will retain assistant coaches T.J. Otzelberger and Jeff Grayer.
Hoiberg is an Ames native and one of the most popular players in school history. He played 10 seasons in the NBA before joining the front office of the Minnesota Timberwolves.
(Copyright 2010 by The Associated Press. All Rights Reserved.)
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