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AMES, Iowa - Iowa State basketball coach Fred Hoiberg has agreed to a new 10-year, $20 million deal with the Cyclones that will run through 2023.

Hoiberg, who just completed his third season with the Cyclones, finalized the contract with Iowa State President Steven Leath and athletic director Jamie Pollard on Thursday night.

The news comes after Hoiberg, a former guard with the Minnesota Timberwolves, was speculated to be a possible replacement for Tubby Smith as the next Gophers men's basketball head coach.

Hoiberg, a former star player at Iowa State, has Iowa State to back-to-back NCAA tournament appearances for the first time in 12 years.

The deal is nearly identical to the one that Pollard and football coach Paul Rhoads agreed to before last season.

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