Iowa signs head coach Fran McCaffery to a new seven-year contract

The University of Iowa announced the signing of head coach Fran McCaffery to a new seven-year contract, according to a report on the university's website.

The new deal guarantees McCaffery a minimum average salary of $1.66 million a year, starting with a $1.3 base salary in 2012-13. He led Iowa to an 18-17 mark and an NIT bid in 2011-12 and he has a 29-37 record during his two seasons with the team.

McCaffery spent five seasons at Siena before taking over at Iowa. He went 112-51 in his five seasons there.

"Two years into his tenure, I'm thrilled with where Fran is taking our program," said Iowa athletic director Gary Barta. "He has done an outstanding job, in all phases. We are pleased that the victory total has increased in the last two seasons."