It would cost more than $10 million to get rid of him. Last March, his contract was extended through the 2028-2029 season, which means that he has four more seasons left on his contract. His salary for the 2024-2025 season was increased to $4.25 million, and his salary increases by $100,000 each year thereafter. That means his salary for the next four seasons is as follows: $4.35 million for the 2025-2026 season, $4.45 million for the 2026-2027 season, $4.55 million for the 2027-2028 season and $4.65 million for the 2028-2029 season. Plus, he gets a $500,000 bonus if he remains at Nebraska through March 31, 2027. According to the article below, his contract does not include a reduced buyout if he is fired. Instead, he would be entitled to his remaining salary plus the unearned stay bonus. So, it's essentially a guaranteed contract. As I calculate it, if he were to be fired now, Nebraska would owe him $18.5 million, less any amount he gets from a new job before the end of the 2028-2029 season.
Nebraska basketball coach Fred Hoiberg agrees to contract extension through 2028-29 season