Former Siena head basketball coach Fran McCaffery has signed a seven year contract extension with the Iowa Hawkeyes, one that has a base salary of $1.3 million next season. He can make up to $1.86 million should the Hawkeyes reach the NCAA Tournament.

McCaffery went 112-51 at Siena and won Metro Atlantic Athletic Conference championships with the Saints in 2008, 2009, and 2010. He scored first round wins in the NCAA Tournament in '08 against Vanderbilt and '09, a double overtime victory over Ohio State, a season in which Siena finished the season ranked 28th in the final ESPN/USA Today Coaches Poll.

In his time with the Hawkeyes, McCaffery is 29-37, but has improved the team in each of his two seasons at the helm. In the 2009-2010 season, the year prior to his arrival, Iowa went 10-22 with a dismal 4-14 record in Big Ten play. His first year as head coach saw the team go 11-20 (4-14 Big Ten), but he helped the team break .500 in his second season as they went 18-17 (8-10 Big Ten).

Clearly Iowa think that McCaffery can continue to turn the program around. If he can help them get to their first NCAA Tournament since 2006, he will be paid handsomely for doing so.