Updated

Tubby Smith has agreed to a contract extension to continue coaching at the University of Minnesota through the 2016-17 season.

Financial terms of the contract were not released.

"I am pleased to announce that Coach Smith and Gopher Athletics have agreed on a contract extension," director of athletics Norwood Teague said. "Tubby took over our program at a difficult time and quickly got it headed back in the right direction, both athletically and academically. Since then, Gopher basketball has continued to make strides under his leadership with four postseason appearances, including last year's exciting run to the NIT title game. I look forward to working with Coach Smith into the future to help lift Gopher basketball to even greater heights."

Last season, the Gopher reached the NIT Championship game after winning 23 games.

"We are excited about the extension and know that the University of Minnesota is the right place for us," said Smith. "I believe that we can get the job done here. The commitment from the university is there to continue to grow the program and I am looking forward to being a part of that. I appreciate the faith that Norwood Teague and President Kaler have in our staff and what we are trying to accomplish here. I am focused on reaching our full potential as a program. That is why we came here five years ago and it is still our goal."

In five seasons at Minnesota, Smith has compiled a record of 103-68 and led the Gophers to two NCAA Tournament berths and two NIT appearances. His winning percentage is the fourth-best in school history.

Prior to coaching at Minnesota, Smith was the head coach at Tulsa, Georgia and Kentucky, where he won the SEC Tournament five times and the NCAA Championship in 1998. His overall record is 490-213 across 21 seasons.