Iowa men’s basketball coach Fran McCaffery has signed a four-year contract extension that will keep him with the Hawkeyes through the 2027-28 season, athletics director Gary Barta announced on Monday.

McCaffery’s $2.3 million base salary for the next two seasons will remain unchanged. After that, the 11th-year Iowa coach will be in line for a longevity bonus, according to the university. How much his salary will increase has not been announced and a records request was not immediately returned. McCaffery took a voluntary 15 percent salary reduction this year to help the athletic department mitigate financial shortages brought on by the pandemic, but has earned $55,000 in bonuses based on his team’s performance this season.

“I am grateful to Gary Barta and President Bruce Harreld for their continued support,” McCaffery said in a release. “It truly is an honor to represent the University of Iowa and coach the tremendous young men in our program. I am proud of what our team accomplished during the regular season, and we are eager to compete for a national championship this month.”

Two of McCaffery’s sons are currently on his team. Connor McCaffery is a junior and Patrick McCaffery is a freshman. McCaffery would be 68 by the time this new deal expires.

McCaffery has guided the nationally-ranked Hawkeyes to a 21-8 regular season record and a third-place finish in the Big Ten with a 14-6 league mark in 2020-21. Iowa has been ranked inside the Top 15 of the Associated Press Poll every week this season, including No. 5 on March 9. He has guided Iowa to 20 wins or more in seven of the last nine seasons.

Second-seeded Iowa will begin NCAA Men’s Basketball Tournament play on Saturday against No. 15 seed Grand Canyon (17-6). Tipoff is scheduled for approximately 5:25 p.m. (CT) at the Indiana Farmers Coliseum. The game will be televised nationally on TBS.

This is Iowa’s fifth tournament appearance in 11 seasons under McCaffery. The Hawkeyes would have made another appearance in 2020 had the tournament not been canceled because of the pandemic.

McCaffery is Iowa’s second all-time winningest coach with 215 overall wins and 103 Big Ten victories. Tom Davis is first in both those categories.