Cedar Falls, IA (SportsNetwork.com) - Ben Jacobson will remain the men's basketball coach at Northern Iowa after signing a 10-year contract on Thursday.

Jacobson's new deal will carry him through the 2024-25 season and is worth an average annual salary of $900,000.

"(My family) could not be happier to continue to receive the overwhelming support of our community, our campus and our alums," said Jacobson in a statement Thursday. "The foundation of our program continues to grow. I want to thank all who have made this growth possible. The relationships and support have allowed us to recruit quality young men that will represent our program in a manner that we can all be proud of. I look forward to continuing the process of helping UNI basketball reach new heights."

The Panthers won the Missouri Valley Tournament this season and finished 31-4 after a loss to Louisville in the NCAA Tournament's round of 32. Northern Iowa has a record of 197-105 in nine seasons under Jacobson, reaching the NCAA Tournament three times, the NIT once and the CIT twice.

"Ben has led UNI's basketball program to a place among the nation's elite during his nine years as our head coach," said athletic director Troy Dannen. "At the same time, he has established himself as one of the nation's best coaches. The formula for success in intercollegiate athletics starts with a head coach of high character and integrity who views his role as an educator as the highest priority. We have that coach at UNI, and look forward to Ben remaining in that role well into the future."

Jacobson is the school's all-time winningest coach and a three-time Missouri Valley Coach of the Year. He received a similar extension in 2010, just days after Northern Iowa reached the Sweet 16 of that year's NCAA Tournament with an upset of top-seeded Kansas, and was rewarded with another extension in 2013.