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Beilein Signs Three-Year Contract Extension

Joe Robbins/ Getty Images(ANN ARBOR, Mich.) -- Head coach John Beilein has been rewarded after leading the University of Michigan men's basketball team to the 2013 national championship game.

The school announced Wednesday that it signed Beilein to a three-year contract extension that will replace his old contract and keep him at the school through the 2018-19 season.

Beilein's annual salary will increase from $1.8 million to $2.45 million starting this season.

"I am very excited to have this opportunity to coach at the University of Michigan for at least five more years," Beilein said in a released statement. "I am grateful that President (Mary Sue) Coleman and (athletic director) Dave Brandon are pleased with the direction of our program and have extended this offer of agreement. My staff and I will continue to work every day with our student-athletes to ensure they grow from this incredible educational opportunity. At the same time, competing for Big Ten championship will be the goal each and every year."

During Beilein's six seasons in Ann Arbor, he's compiled a 122-85 record and led the Wolverines to the NCAA Tournament four times.

Copyright 2013 ABC News Radio

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