Iowa State, coach Fred Hoiberg agree to 10-year deal

Iowa State coach Fred Hoiberg signed a 10-year extension worth $20 million. (Jason Miller/Getty Images)

It looks like "The Mayor" will be in Ames, Iowa for years to come.

Iowa State and men's basketball coach Fred Hoiberg agreed to a 10-year deal, worth $20 million that will keep him at the school until the 2023 season, the school announced.

Hoiberg has a career record of 61-39 in three seasons at the school. This season, the Cyclones went 23-12 before they were eliminated by Ohio State in the third round of the NCAA tournament.

From the Iowa State release:

"When I returned to the university three seasons ago, it was a dream come true,” Hoiberg said in a statement. “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."