Colorado State head coach Niko Medved has agreed to a new five-year contract with two additional one-year options, the school announced on Monday.
The full seven-year deal would be worth nearly $13 million, sources told ESPN.
"The culture of success Niko has built around our men's basketball program is undeniable," interim athletics director John Weber said in a statement. "Not only has Niko built a winning team, but the high-character student-athletes and staff he recruits and develops here in Fort Collins are significant."
Medved has been at Colorado State for six seasons, leading the Rams to a pair of NCAA tournament appearances -- including a win over Virginia in this year's First Four. The victory against the Cavaliers was the program's fifth NCAA tournament win in its history and just the third since 1969.
The Rams also reached the NCAA tournament in 2022, earning a 6-seed after winning 25 games and finishing second in the Mountain West. Forward David Roddy, the star from that Colorado State team, was selected in the first round of the 2022 NBA draft.
In six seasons in Fort Collins, Medved is 117-75.
"I want to thank University President Amy Parsons and interim Director of Athletics John Weber for believing in me, our program, and what we have built in the past six years on and off the court," Medved said in a statement. "Their commitment to the men's basketball program continues to help us push forward in the ever-changing landscape of college athletics."
Prior to arriving at Colorado State in 2018, Medved spent one season as the head coach of Drake and four seasons as the head coach of Furman.