AMES, Iowa - After courting Iowa State men's basketball coach Fred Hoiberg, the University of Minnesota is still looking for a new coach for their men's basketball program.

Iowa State Athletic Director Jamie Pollard tweeted that Hoiberg has agreed to a new 10-year, $20 million contract. That means Hoiberg will remain the head coach at his alma mater.

According to Iowa State's website, Hoiberg met with Iowa State President Steven Leath and Director of Athletics Jamie Pollard Thursday night to finalize the deal, which runs through 2023.

"When I returned to the University three seasons ago, it was a dream come true," Hoiberg told "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."

Meanwhile the Gopherswill resume their search. They need to replace head coach Tubby Smith,who was fired one day after the Golden Gophers lost to Florida in the NCAA tournament.

Smith spent six seasons with the Gophers, helping to bring the program back to respectability. He arrived in 2007 from Kentucky, immediately ramping up expectations for a team that had been buried by an academic cheating scandal.

Smith won 20 games five times. But he went just 46-62 in Big Ten play and never finished higher than sixth in the conference. The Gophers made three NCAA tournament appearances under Smith.

Coach Smith finished his career with the Gophers at 124-81.

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