Stevens led the Bulldogs to two straight national championship game appearances in 2010 and 2011 and this season led the team to a 27-9 record before they were eliminated by Marquette in the third round of the NCAA tournament. Stevens has a 166–49 record in six seasons at the school.
"We value him and he's an extremely important coach and staff member," Butler athletic director Barry Collier said.
From an ESPN.com report:
He was targeted by major conference schools such as Oregon, Wake Forest and Clemson in 2010, but signed an extension with Butler through the 2021-22 season. He reportedly makes around $1 million per season. Ben Howland, recently fired by UCLA, was making $2.3 million, but UCLA has had an influx of money, thanks to new television deals with the Pac-12 Network, ESPN and Fox.