Gene Smith, Athletics, (515) 294-0123
Tom Kroeschell, Athletic Media Relations, (515) 294-3372
Iowa State men's basketball head coach Tim Floyd signs contract extension
AMES, Iowa -- Iowa State head men's basketball coach Tim Floyd has signed a contract extension through the 2005-2006 season, Cyclone athletic director Gene Smith announced Friday.
Floyd's annual base salary under the new contract will be $135,000, an increase from the $108,675 he was paid annually under his former contract. The new contract also includes an agreement with the Iowa State University Foundation that compensates Floyd through camps, television and radio shows and public appearances. That agreement also features a deferred compensation package that would reward the Cyclone head coach for staying at Iowa State for the duration of the new contract.
"Everything we have accomplished at Iowa State has been consistent with creating an environment in which our coaches and student-athletes can be successful," said Iowa State athletic director Gene Smith. "The success of our men's basketball team under Tim Floyd has enhanced the reputation of our athletic program on a national level. Tim's contract is consistent with that national marketplace."
Floyd coached an Iowa State team that was picked for last place in the Big Eight Conference by most pre-season publications last season, to a 24-9 record. ISU was the conference regular- season runner-up and the league's post- season tournament champion. The Cyclones advanced to the second-round of the NCAA Tournament for the second straight season. Iowa State's surprising effort earned Floyd Big Eight Coach-of-the-Year honors. He finished second in national coach-of-the-year balloting.
"Iowa State is where I want to be," Floyd said. "Everything is in place here. ISU is in a great community, with a supportive administration, in a powerful conference and our team gets outstanding fan support. Everything we are doing provides for the long-term stability of our basketball program."
Floyd is 47-20 in two seasons at ISU. Floyd's 47 wins are a school record for any second-year Cyclone coach.